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

RossRoss
Every question is just a happy little opportunity.
Chat with Ross
JordanJordan
Looking for a career mentor? I've seen my fair share of shake-ups.
Chat with Jordan
ReneRene
Change my mind. I dare you.
Chat with Rene
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