by citypaintNbody March 23, 2011
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 07, 2003
it is the policy of non-interference. it is generally used by countries while dealing with each other.
by simple..... April 14, 2009
by Brian A. January 19, 2007
(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 28, 2009
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.
by harry flashman July 08, 2003