WORLD 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.

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 most commonly used in the context of economics, but it can be used in everyday life to refer to a hands-off approach to something. The adjective form laissez-faire is more commonly used.

Detailed explanation-4: -Pillars of capitalism In free markets, also called laissez-faire economies, markets operate with little or no regulation.

Detailed explanation-5: -free trade, also called laissez-faire, a policy by which a government does not discriminate against imports or interfere with exports by applying tariffs (to imports) or subsidies (to exports).