Why do they call it laissez-faire?

Question

Why do they refer to what the republicans and in general the democrats as well consistently institute in economic policy as laissez-faire? They are attempting to get rid of any kind of regulation, and social services as well, including attempts to privatize social security, etc., but on the other side they keep instituting more and more corporate welfare? Tax cuts and favors, states bidding through lowering taxes to attract businesses, etc...

My question is how does this count as laissez-faire? How can they have it both ways? If it's laissez-faire, if it's about competition, why do they keep bailing corporations out when they bankrupt themselves? And how is deregulation involved in laissez-faire economics?

The closest thing to a completely laissez-faire economic system would be the bare minimum of patent/copyright law, the bare minimum of social services to the people, and absolutely no tax bidding/corporate welfare/government grants, etc., wouldn't it? And unrelated, they would

have to regulate businesses to prevent them from killing people through faulty products and environmental damage, but that's not even related to laissez-faire economics, is it?

Answer 1

You are correct but I seldom hear either party acting in any way that remotely resembles laissez-faire economics. The term basically meaning "leave it alone" is a far gone thought and have not heard this referred to either party since the eighties.

Answer 2

Yikes. There is nothing laissez-faire about our system at all.

Laissez-faire would eliminate any government involvement in the economy, except in resolving disputes and torts.

Answer 3

The French DiD It

Answer 4

In a world of political liars misnomers abound.