What Is Laissez-Faire?

Laissez-faire is an economic theory from the 18th century that opposed any government intervention in business affairs. The driving principle behind laissez-faire, a French term that translates to „leave alone“ (literally, „let you do“), is that the less the government is involved in the economy, the better off business will be, and by extension, society as a whole.

Laissez-faire economics is a key part of free-market capitalism.