laisser-faire is short for "laissez faire, laissez aller, laissez passer," a French phrase meaning "let do, let go, let pass." From the French diction first used by the eighteenth century physiocrats as an injunction against government interference with trade, it became used as a synonym for strict free market economics during the early and mid-19th century. It is generally understood to be a doctrine that maintains that private initiative and production is best to roam free, opposing economic interventionism and taxation by the state beyond that which is perceived to be necessary to maintain peace, security, and property rights.[1] (Some extreme laissez-faire advocates even oppose taxation). It also embodies free trade, namely that a state should not use protectionist measures, such as tariffs, in order to curtail trade between nations.
In the early stages of European and American economic theory, laissez-faire economic policy was contrasted to mercantilist economic policy, which had been the dominant system of the United Kingdom, Spain, France and other European countries, during their rise to power.
The term laissez-faire is often used interchangeably with the term "free market." Some may use the term laissez-faire to refer to "let do, let pass" attitude for concepts in areas outside of economics.[2]
Laissez-faire is associated with classical liberalism, libertarianism, and objectivism.[citation needed] It was originally introduced in the English-language world in 1774, by George Whatley, in the book 'Principles of Trade', which was co-authored with Benjamin Franklin. Classical economists, such as Thomas Malthus, Adam Smith and David Ricardo did not use the term—Bentham did, but only with the advent of the Anti-Corn Law League did the term receive much of its (English) meaning.[3]
2006-12-24 08:51:02
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answer #1
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answered by Caitlin 5
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It's François
2016-05-23 04:28:48
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answer #2
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answered by Anonymous
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L'aissez faire is the correct spelling. It means let do, let go, or let pass.
"it became used as a synonym for strict free market economics during the early and mid-19th century. It is generally understood to be a doctrine that maintains that private initiative and production is best to roam free, opposing economic interventionism and taxation by the state beyond that which is perceived to be necessary to maintain peace, security, and property rights"
2006-12-24 08:58:48
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answer #3
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answered by istitch2 6
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laissez-faire
One entry found for laissez-faire.
Main Entry: lais·sez-faire
Pronunciation: "le-"sA-'fer, "lA-, -"zA-
Function: noun
Etymology: French laissez faire, imperative of laisser faire to let (people) do (as they choose)
1 : a doctrine opposing governmental interference in economic affairs beyond the minimum necessary for the maintenance of peace and property rights
2 : a philosophy or practice characterized by a usually deliberate abstention from direction or interference especially with individual freedom of choice and action
- laissez-faire adjective
2006-12-24 08:52:01
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answer #4
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answered by paulooly 2
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"lais·sez faire" is a French expression, which is also sometimes spelled as "lais·ser faire", and itmeans "an economic doctrine that opposes governmental regulation of or interference in commerce beyond the minimum, necessary for a free-enterprise system to operate according to its own economic laws.
Or, "noninterference in the affairs of others."
2006-12-24 09:05:20
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answer #5
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answered by Anonymous
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It is a form of government. I don't know the exact translation, but the thought in the collective mind of the government seems to be the following:
"Let's be lazy and see how the people fare..."
2006-12-24 11:26:26
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answer #6
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answered by Kelleinna 2
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L'aissez faire means to let something be free, to leave it alone.
A l'aissez faire economy is one which the government does not control.
2006-12-24 08:50:31
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answer #7
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answered by Joy M 7
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"Laisser-faire" means "let things alone".
2006-12-24 12:53:38
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answer #8
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answered by fabee 6
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