Laissez-faire

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]

1. ↑ "laissez faire". Merriam-Webster. Retrieved 5 November 2016.
2. ↑ ^{2.0 2.1} "Laissez Faire Capitalism". Importance of Philosophy. Retrieved 5 November 2016.
3. ↑ ^{3.0 3.1 3.2} "Laissez Faire". Investopedia, LLC. Retrieved 5 November 2016.