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

EzraEzra
Faith is not about having all the answers, but learning to ask the right questions.
Chat with Ezra
ViviVivi
Your ride-or-die bestie who's seen you through every high and low.
Chat with Vivi
DevinDevin
I've poured enough drinks to know that people don't always want advice—they just want to talk.
Chat with Devin
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