laissez faire

alternative laissez-faire · alternative laisser faire · alternative laisser-faire

1. uncountableeconomicsA policy of governmental non-interference in economic affairs.

   While laissez-faire economy was the product of deliberate State action, subsequent restrictions on laissez-faire started in a spontaneous way. Laissez-faire was planned; planning was not.

   2001 [1944], Karl Polanyi, “12. Birth of the Liberal Creed”, in The Great Transformation

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   In brief, all this Mammon-Gospel of Supply-and-demand, Competition, Laissez-faire, and Devil take the hindmost, begins to be one of the shabbiest Gospels ever preached on Earth; or altogether the shabbiest.

   1843 April, Thomas Carlyle, chapter 9, in Past and Present, American edition, Boston, Mass.: Charles C[offin] Little and James Brown, published 1843, →OCLC, book I (Proem), page 106

2. uncountableA policy of non-interference by authority in any competitive process.

comparative more laissez faire · superlative most laissez faire · alternative laissez-faire · alternative laisser faire · alternative laisser-faire

1. economicsPracticing or representing governmental noninterference, or minimal interference, especially in economic affairs; pertaining to free-market capitalism.

   I think the city should take a laissez faire approach to this; getting involved would only make things worse.

2. economicsAdvocating such noninterference.

   The Senator claims to be laissez faire, but he voted in favor of the subsidies.

   1 more example

   While laissez-faire economy was the product of deliberate State action, subsequent restrictions on laissez-faire started in a spontaneous way. Laissez-faire was planned; planning was not.

   2001 [1944], Karl Polanyi, “12. Birth of the Liberal Creed”, in The Great Transformation

3. economicsResulting from such noninterference.

   The price ceiling was well below the laissez faire price that demand would have supported, so there were always shortages.

4. Avoiding interference in other people's affairs; choosing to live and let live.

   Synonyms: forbearing, hands off, indulgent, avuncular, broad-minded, catholic, forbearing, indulgent