laissez-faire

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Dictionary definition of laissez-faire

A policy or attitude of non-interference or minimal government intervention.
"The laissez-faire attitude towards business has led to rapid economic growth."

Detailed meaning of laissez-faire

French for "leave alone." Laissez-faire economics is a philosophy that advocates for minimal government intervention in the economy, allowing the market to operate freely with minimal regulation. It is based on the idea that the economy functions best when left to its own devices and that government intervention can actually harm economic growth and prosperity. This philosophy is often associated with classical liberalism and libertarianism. It also can be used in other aspects of life such as management and parenting, it means to give freedom and not micromanage.

Example sentences containing laissez-faire

1. The economy operates on the principles of laissez-faire, with minimal government intervention.
2. The company's laissez-faire management style allows employees more autonomy.
3. The economist advocated for a laissez-faire approach to market regulation.
4. In a laissez-faire system, competition drives innovation and efficiency.
5. The government's laissez-faire attitude towards environmental issues raised concerns.
6. Some argue that a pure laissez-faire economy can lead to inequality and exploitation.

History and etymology of laissez-faire

The noun 'laissez-faire' has its etymological roots in French. It is derived from the French phrase 'laissez faire,' which translates to 'let do' or 'let it be.' The term is closely associated with the economic philosophy of classical liberalism and was popularized by French economists in the 18th century. In English, 'laissez-faire' denotes a policy or attitude of non-interference or minimal government intervention in economic and social matters. It advocates for a free-market approach, where individuals and businesses are left to pursue their interests with minimal regulation or control from the government. 'Laissez-faire' reflects the belief in the self-regulating nature of markets and the idea that government intervention can often have negative consequences, such as stifling economic growth or limiting individual freedom.

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Further usage examples of laissez-faire

1. The laissez-faire policy led to unchecked growth in certain industries.
2. The education system adopted a laissez-faire approach to curriculum design.
3. Critics of laissez-faire economics point to the potential for market monopolies.
4. The politician's platform centered on promoting laissez-faire capitalism.
5. The laissez-faire philosophy emphasizes individual freedom and choice.
6. The laissez-faire approach to healthcare resulted in varying levels of quality.
7. Supporters of laissez-faire economics believe it encourages economic growth.
8. The country's economic success was attributed to its embrace of laissez-faire principles.
9. The debate over government intervention versus laissez-faire continues to divide experts.
10. The laissez-faire ideology clashed with efforts to implement social welfare programs.
11. The laissez-faire policy allowed for rapid technological advancements.
12. The consequences of unregulated laissez-faire markets became evident during the financial crisis.
13. The entrepreneur thrived in the laissez-faire business environment.
14. The professor discussed the historical context of the rise of laissez-faire economics.