Laissez-faire (or sometimes laisser-faire) is an economic environment in which transactions between private parties are free from tariffs, government subsidies, and enforced monopolies, with only enough government regulations sufficient to protect property rights against theft and aggression. The phrase laissez-faire is French and literally means “let [them them] do”, but it broadly implies “let it be,” “let them do as they will,” or “leave it alone”.
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