Laissez-faire economics is defined as a situation with minimal government intervention. Under laissez-faire , governments and regulators ‘leave alone’ private firms to allow them to make decisions about production and output. In particular, laissez-faire involves zero / minimal government intervention on issues such as regulation, taxes and tariffs. Comparison between Laissez-Faire economics and social democracy Laissez - Faire is an economic doctrine that advocates minimal or no government intervention in business and economic affairs. Learn about its meaning, history, benefits, criticism, policies, and examples in this blog post. Laissez - faire is a French phrase meaning unwillingness to get involved in or influence other people's activities. It is also an economic theory or plan that favors free markets and minimal government intervention. Learn more about its meaning, usage and translations in different languages. Laissez-faire is a policy of minimum governmental interference in the economic affairs of individuals and society . The doctrine of laissez-faire is usually associated with the economists known as Physiocrats, who flourished in France from about 1756 to 1778.
