Laissez-faire is an economic and political philosophy.[1] It is from a French phrase that means to "leave alone".[2] It means that government does not interfere with business and economy.[2] Finance and trade decisions are left for the private individual to make. It is the belief that unregulated competition in business represents the best path to progress. Supporters claim that a free and unregulated market creates a natural balance between supply and demand. The phrase is supposed to have come from the 18th century.[3] In a meeting between the French finance minister Colbert and a businessman named Le Gendre, Colbert asked how the government could help commerce.[3] Le Gendre replied "Let us do what we want to do".[3]
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