laissez
n. uncountable C1 Advanced US //ˈɫeɪˌzeɪ// lais·sez
n. a French phrase that means 'let them do'. It is used to describe a system where the government does not control the economy and lets businesses do what they want.
n. a French phrase meaning 'let them do', used to describe a policy of non-interference in economic affairs. Often used in the context of classical liberalism and free-market capitalism.
The government decided to follow a laissez-faire policy.
Economists debated whether a laissez-faire approach would lead to long-term growth or market instability.
The 19th-century laissez-faire doctrine argued that minimal state intervention was the most effective way to ensure a healthy and competitive marketplace.