laissez-faire
Definition
- Adjective:
- Relating to a policy of minimal government interference in economic affairs: "Laissez-faire" describes an economic doctrine or system where transactions between private parties are free from government intervention such as regulation, privileges, tariffs, and subsidies.
- Characterized by a non-interventionist approach: It can also describe a general attitude or policy of letting things take their own course, without interference, especially in commercial or personal matters.
Examples of Usage
- Adjective:
- The country adopted a laissez-faire economic policy, allowing the market to regulate itself.
- His laissez-faire parenting style meant he gave his children a great deal of freedom.
Advanced Usage
"Laissez-faire capitalism": An economic system based on private ownership and minimal government intervention.
- The 19th century is often cited as an era of laissez-faire capitalism.
"Laissez-faire attitude": A relaxed, non-interfering approach to a situation.
- His laissez-faire attitude towards project deadlines caused some concern among the team.
Variants and Related Words
Laissez-faireism (n): The doctrine or practice of laissez-faire.
- His political philosophy was rooted in laissez-faireism.
Laissez-faireist (n/adj): A person who advocates laissez-faire policies; relating to such advocacy.
- The economist was a noted laissez-faireist.
Synonyms
- Free-market: Operating according to the principles of a free market with little regulation.
- Non-interventionist: Opposed to intervention, especially by a government in economic affairs.
- Hands-off: Involving a policy of non-interference.
Antonyms
- Interventionist: Favoring intervention, especially by a government.
- Regulated: Controlled by rules or laws.
- Protectionist: Relating to the theory or practice of shielding a country's domestic industries from foreign competition by taxing imports.
Related Idioms and Phrases
- "Laissez-faire and let be": A phrase emphasizing the principle of non-interference. (Note: This is a less common variant reinforcing the core concept.)
- In matters of personal belief, his motto was "laissez-faire and let be".
Adjective
-
with minimally restricted freedom in commerce
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