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Laissez-faire (/ ˌ l ɛ s eɪ ˈ f ɛər / LESS-ay-FAIR, from French: laissez faire [lɛse fɛːʁ] ⓘ, lit. ' let do ' ) is a type of economic system in which transactions between private groups of people are free from any form of economic interventionism (such as subsidies or regulations ).
Rand intended Capitalism: The Unknown Ideal to focus on the moral nature of capitalism, as opposed to focusing on its economic aspects. She contrasts this with what she says is the failure of most other defenders of capitalism to provide a moral defense of that system. [1] [2] [3] After an introduction by Rand, the book is divided into two main ...
Laissez-faire capitalism is a more extensive form of this free-market economy, but one in which the role of the state is limited to protecting property rights. [156] In anarcho-capitalist theory, property rights are protected by private firms and market-generated law. According to anarcho-capitalists, this entails property rights without ...
It's an inconvenient truth, to borrow a quote from Al Gore, but it's one that investors should heed, if they seek a U.S. economy capable of sustainable GDP growth and an investment stance that's ...
Collective laissez faire is a term in legal and economic theory used to refer to the policy of a government to leave trade unions and employers free to collectively bargain with one another, with limited government intervention and oversight.
Freedom to contract underpins laissez-faire economics and is a cornerstone of free-market libertarianism. The proponents of the concept believe that through "freedom of contract", individuals possess a general freedom to choose with whom to contract, whether to contract or not, and on which terms to contract.