| 1. | laissez-faire | ||
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An economy or market with no regulation or restrictions on how the said market operates, thus allowing the most efficient allocation of a resources in an economy. The laissez-faire or 'market system' is the unplanned capitalist economic system. The extreme opposite is N.Korea, Cuba, China etc. The 'passive' approach, or that of non-intervention to Macroeconomic management (as stated by harry flashman) is just one feature of the laissez-faire or market system.
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| 2. | laissez-faire | ||
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Let it be! Laissez-faire for now.
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| 3. | laissez-faire | ||
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Fr. Either a term meaning a policy of non-interference in economics or meaning an indolent homosexual. Pierre, an economic adviser to the finance minister was going to propose a laissez-faire approach to the recession but was such a laissez-faire that he never got around to it.
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