Laissez Faire

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DEFINITION of 'Laissez Faire'

An economic theory from the 18th century that is strongly opposed to any government intervention in business affairs.

Sometimes referred to as "let it be economics."

INVESTOPEDIA EXPLAINS 'Laissez Faire'

People who support a laissez faire system are against minimum wages, duties, and any other trade restrictions.

Laissez faire is French for "leave alone."

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