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Definition. Comparison between Laissez-Faire economics and social democracy. Definition of laissez-faire in the Definitions.net dictionary. By definition, laissez-faire translates to ‘let do’. Laissez-faire economics is generally considered a libertarian ideal. It suggests that economic systems should operate with minimal government interference. Learn why the approach seems to come and go through history and where it got its origins. Many people, however, do not feel that a laissez-faire leader is a leader at all. Origins of Laissez-faire Economics. The term laissez faire refers to an economic system wherein the government takes a “hands-off” approach to transactions by and between private parties. It refers to a political ideology that rejects the practice of government intervention in an economy. If a government is…. laissez-faire meaning: 1. unwillingness to get involved in or influence other people's activities: 2. The Financial Times’ dictionary of business terms says laissez-faire by definition is: “The view, backed by supporters of the free market, that economic performance is optimized when there is no government interference. Laissez-Faire economics is an economic theory and practice. Their response: “Leave … This is a theoretical construct that is probably paradoxical such that it can't truly exist at any scale. One of the basic tenets of classical economics.” Laissez-faire axioms. Origin of Laissez-faire. Laissez faire is the belief that economies and businesses function best when there is no interference by the government. In particular, laissez-faire involves zero / minimal government intervention on issues such as regulation, taxes and tariffs. Laissez-faire is an economic system that is completely free of government intervention. The term literally translates to mean “let go” or “allow to act.” The idea is that, in such an economic system, free enterprise will regulate itself, as if one party offers a product that is of low quality, people won’t buy it. It […] Find out what ‘laissez faire’ means and why so many people feel strongly in this economic belief. ... Laissez-faire. Laissez-faire literally translates from French to ‘leave to do’. Further, the state is seen as an obstacle to economic growth and development. Also known as: Laissez-faire economics; free market economics; What is laissez-faire? Along with being an approach to economics, laissez-faire can be a philosophy of leadership. Under this system, private businesses are allowed to act and operate as dictated by market forces. Some people need a leader to exert authority and control. As a Leadership Philosophy. Laissez-faire is a French phrase that translates to "leave us alone." Information and translations of laissez-faire in the most comprehensive dictionary definitions resource on the web. Definition Laissez faire is the belief that economies and businesses function best when there is no interference by the government. The French King asked capitalists how he could support the economy. Laissez-faire is a French term and is said to have originated in … Meaning of laissez-faire. Its believed to have originated in 18th century France, under the rule of King Louis XIV. Laissez-Faire Economics Defined. Learn more. Quick Definition: Laissez-faire is an economic system in which there is a competitive market economy where prices are determined by supply and demand and there is little or no intervention from the government. What does laissez-faire mean? Economics ; free market economics ; What is laissez-faire on the web century,. And operate as dictated by market forces is the belief that economies and businesses best... 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