Origin of laissez faireFr, literally , let (people) do (as they please)
- An example of laissez faire are the economic policies held by capitalist countries.
- An example of laissez faire is when a homeowner is allowed to plant whatever they want to grow in their front yard without having to get permission from their city.
also lais·ser faire
- An economic doctrine that opposes governmental regulation of or interference in commerce beyond the minimum necessary for a free-enterprise system to operate according to its own economic laws.
- Noninterference in the affairs of others.
Origin of laissez faireFrench laissez second person pl. imperative of laisser to let, allow faire to do
- (economics) A policy of governmental non-interference in economic affairs.
- A policy of non-interference by authority in any competitive process.
- Usually spelled "laissez-faire" in its common attributive use.
(comparative more laissez faire, superlative most laissez faire)
- (economics, politics) Practicing or representing governmental noninterference, or minimal interference, especially in economic affairs; pertaining to free-market capitalism.
- I think the city should take a laissez faire approach to this; getting involved would only make things worse.
- (economics, politics) Advocating such noninterference.
- The Senator claims to be laissez faire, but he voted in favor of the subsidies.
- (economics) Resulting from such noninterference.
- The price ceiling was well below the laissez faire price that demand would have supported, so there were always shortages.
- (of a person) Avoiding interference in other people's affairs; choosing to live and let live.
From French laissez faire (“leave it be", literally "let do”)
- Alternative form of laissez faire.
laissez-faire - Investment & Finance Definition
A doctrine that says government involvement in business and financial affairs should occur only at a very minimal level. It is French for “let them do as they please.” Adam Smith originated this theory in 1776, in his book The Wealth of Nations. Advocates of a laissez-faire policy believe that businesses should be able to pursue all opportunities as they see fit, and that the marketplace should act as an invisible hand in order to create the maximum good for everyone. Although this theory was popular during the 19th century, and businesses in the United States and Great Britain generally were able to do as they wished, the laissez-faire philosophy was severely restrained in the United States in the 20th century when the federal government broke up several large monopolies. Later, the Great Depression further changed the thinking of government officials, who felt compelled to take action to cope with severe unemployment.
- A quarter of a century of Sir Victor Houlton's policy of laissez-faire was changed in 1883 by the appointment of Sir Walter Hely-Hutchinson as chief secretary.
- The failure of " laissez-faire " individualism in politics to produce that common prosperity and happiness which its advocates hoped for caused men to question the egoistic basis upon which its ethical counterpart was constructed.