USA HISTORY

Detailed explanation-1: -Laissez-faire is a policy of minimum governmental interference in the economic affairs of individuals and society. The doctrine of laissez-faire is usually associated with the economists known as Physiocrats, who flourished in France from about 1756 to 1778. The term laissez-faire means, in French, “allow to do.”

Detailed explanation-2: -Laissez-faire is an economic philosophy of free-market capitalism that opposes government intervention. The theory of laissez-faire was developed by the French Physiocrats during the 18th century. Laissez-faire advocates that economic success is inhibited when governments are involved in business and markets.

Detailed explanation-3: -Laissez faire is the doctrine that government generally should not interfere in the marketplace. Governments create laws protecting property rights and enforcing contracts.

Detailed explanation-4: -: letting go : carelessness : slovenliness.

Detailed explanation-5: -The theory suggests that an economy is strongest when the government stays out of the economy entirely, letting market forces behave naturally. In laissez-faire policy, the government’s role is to protect the rights of the individual, rather than regulating business in any way.