answersLogoWhite

0

Laissez -faire is a French term that means the avoidance of government control of the business and of the economy. This idea has been replaced with the term "free markets" which understands that government regulations on business to a certain extent are necessary for a wealthy and fair economy. The US economy can be described as a free market economy.

User Avatar

Wiki User

8y ago

Still curious? Ask our experts.

Chat with our AI personalities

TaigaTaiga
Every great hero faces trials, and you—yes, YOU—are no exception!
Chat with Taiga
CoachCoach
Success isn't just about winning—it's about vision, patience, and playing the long game.
Chat with Coach
ProfessorProfessor
I will give you the most educated answer.
Chat with Professor
More answers

Laissez fair essentially means let things happen. So laissez faire economics means to let things happen in the economy with no or little interference from government.

User Avatar

Wiki User

7y ago
User Avatar

Add your answer:

Earn +20 pts
Q: What is the economic policy of laissez - faire?
Write your answer...
Submit
Still have questions?
magnify glass
imp