(les-ey fair; Fr. le-sey fer)
1. the theory that government should intervene as little as possible in the direction of economic affairs.
2. As present in the U.S. as free-trade and capitalism
1. the theory that government should intervene as little as possible in the direction of economic affairs.
2. As present in the U.S. as free-trade and capitalism
by kdiz930 January 27, 2009
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Get the laissez faire 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.
by Diego December 7, 2003
Get the laissez-faire mug.it is the policy of non-interference. it is generally used by countries while dealing with each other.
by simple..... April 14, 2009
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n. Describes a person that is able to get many girls without actively pursuing. The pimp is able to let the ladies come to him by being desirable at their first meeting.
by John V January 21, 2006
Get the laissez faire pimping mug.by Brian A. January 21, 2007
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