ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -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.

Detailed explanation-2: -The phrase laissez-faire is part of a larger French phrase and literally translates to “let [it/them] do", but in this context the phrase usually means to “let it be” and in expression “laid back".

Detailed explanation-3: -Laissez-faire is the belief that economies and businesses function best when there is no interference by the government. It comes from the French, meaning to leave alone or to allow to do.

Detailed explanation-4: -The phrase laissez faire comes from the French phrase laissez faire et laissez passer, “Let be and let pass.” This phrase became popular in 18th Century France, where economists suggested the government stay out of business and industry.