Lasse is the definition of a really nice guy who is so awesome that if you`d count to his awesomeness, you would never get finished. Lasse is also a word for an extremely smart guy. (His IQ is over 9000)
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Get the Hairy Lassie mug.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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