laissez faire
"Laissez faire" is a French term meaning "let do" or "let it be," often used to describe a hands-off approach in economic and social policies.
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Definition
C1Economics
(technical, academic)An economic system where the government minimizes its involvement, allowing private transactions and businesses to operate freely.
Example
- In a laissez-faire economy, businesses are free to set their own prices and policies without government intervention.
- Laissez-faire capitalism relies on market forces to regulate the economy.
C1Politics
(formal, academic)A policy of minimal governmental interference in the economic affairs of individuals and society.
Example
- The government's laissez-faire approach allowed industries to develop without heavy regulation.
- Advocates of laissez-faire believe that less government intervention leads to a more efficient economy.
B2General
(informal)An attitude of letting things take their own course without interfering.
Example
- His laissez-faire parenting style gives his children a lot of freedom to make their own choices.
- She adopted a laissez-faire attitude towards her team's project, trusting them to manage it independently.