USA HISTORY

Detailed explanation-1: -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-2: -Capitalism. A closely related name for laissez-faire capitalism is that of raw, pure, or unrestrained capitalism, which refers to capitalism free of any regulations, with low or minimal government and operating almost entirely on the profit motive. It shares a similar economic conception with anarcho-capitalism.

Detailed explanation-3: -Laissez-faire leaders have an attitude of trust and reliance on their employees. They don’t micromanage or get too involved, they don’t give too much instruction or guidance. Instead laissez-faire leaders let their employees use their creativity, resources, and experience to help them meet their goals.