What is the laissez-faire policy?

Question

What is the laissez-faire policy?

Answer 1

1. the theory or system of government that upholds the autonomous character of the economic order, believing that government should intervene as little as possible in the direction of economic affairs.
2. the practice or doctrine of noninterference in the affairs of others, esp. with reference to individual conduct or freedom of action.

Answer 2

Laissez-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.(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.

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.

Answer 3

It means 'I don't care - the market (people) will take care of the problem by themselves'.

For example - recent massive investment fraud and corruption of options expensing. Laissez-faire policy - 'Forget regulation - people will simply stop investing, as they have caught onto the scam'.

Answer 4

It is the policy of "hands off" of whatever you are considering. In governmental terms it would mean a complete lack of regulation or controls to let whatever system you are considering work without any external influences.

For example, it could be a completely free market total unhindered by regulation, rules or restrictions. Hands off.

Answer 5

Free markets and less government intervention.

Answer 6

it a a shame with Harper