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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 ).
[40] In Europe, liberalism usually means what is sometimes called classical liberalism, a commitment to limited government, laissez-faire economics. This classical liberalism sometimes more closely corresponds to the American definition of libertarianism, although some distinguish between classical liberalism and libertarianism. [41]
Classical liberalism is a political tradition and a branch of liberalism that advocates free market and laissez-faire economics and civil liberties under the rule of law, with special emphasis on individual autonomy, limited government, economic freedom, political freedom and freedom of speech. [1]
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 ...
This is opposed to government regulations such as minimum-wage laws, competition laws, economic sanctions, restrictions on price fixing, or restrictions on contracting with undocumented workers. Freedom to contract underpins laissez-faire economics and is a cornerstone of free-market libertarianism.
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.
Although laissez-faire has been commonly associated with capitalism, there is a similar left-wing laissez-faire system called free-market anarchism, also known as free-market anti-capitalism and free-market socialism to distinguish it from laissez-faire capitalism.
Although laissez-faire has been commonly associated with capitalism, there is a similar economic theory associated with socialism called left-wing or socialist laissez-faire, also known as free-market anarchism, free-market anti-capitalism and free-market socialism to distinguish it from laissez-faire capitalism.