Free US Law Dictionary

BETA

Laissez Faire

Part of a series on
Economic systems

Ideologies and theories

Anarchist · Capitalism
Communist · Corporatism
Fascist · Islamic
Laissez-faire · Market economy
Mercantilism · Socialist

Sectors and systems

Closed · Dual · Gift
Informal · Mixed · Natural
Open · Participatory · Planned
Subsistence · Underground
Virtual

Related articles

Anglo-Saxon economy
American School
Global economy
Hunter-gatherer
Information economy
Newly industrialized country
Palace economy
Plantation economy
Social market economy
Token economy
Traditional economy
Transition economy

Business and Economics Portal This box: view • talk • edit Part of the series on

Libertarianism

Schools of thought

Agorism
Anarcho-capitalism
Autarchism
Christian libertarianism
Geolibertarianism
Green libertarianism
Individualist anarchism
Left-libertarianism
Libertarian feminism
Free-market anarchism
Minarchism
Neolibertarianism
Paleolibertarianism
Progressive libertarianism
Propertarianism
Right-libertarianism
Rights libertarianism
Voluntaryism

Origins

Objectivism
Austrian School
Chicago School
Classical liberalism
Individualist anarchism

Ideas

Civil liberties
Counter-economics
Decriminalization
Economic freedom
Free markets
Free trade
Free will
Freedom of contract
Homestead principle
Humanism
Individualism
Laissez-faire
Liberty
Natural rights
Night watchman state
Non-aggression
Non-interventionism
Private property
Self-government
Self-ownership
Subjectivism
Tax resistance

Topics

History
Movement
Controversies within libertarianism
Parties
Theories of law
Views of rights
Criticism of libertarianism

Related

Civil libertarianism
Constitutionalism
Libertarian Democrat
Libertarian Republican
Libertarian socialism
Libertarian transhumanism

Philosophy Portal
Politics Portal
 v • d • e 

The use of the term laissez-faire can refer to "let alone, let pass" attitude for matters outside of economics.[1] For the bookseller, see Laissez Faire Books.

Laissez-faire (pronunciation: French, [lɛsefɛʁ] (help·info); English, IPA: /ˌleɪseɪˈfɛər/) is a French phrase literally meaning "Let do." From the French diction first used by the eighteenth century physiocrats as an injunction against government interference with trade, it became used as a synonym for strict free market economics. It is generally understood to be a doctrine that maintains that private initiative and production are best allowed to be free of economic interventionism and taxation by the state beyond what is necessary to maintain individual liberty, peace, security, and property rights.[2]

Laissez-faire is supported by proponents of libertarianism, classical liberalism, neoliberalism, minarchism and Objectivism. Libertarians argue that the free market produces greater prosperity and personal freedom than other economic systems. The Austrian School of economics and the Chicago School of economics are important types of laissez-faire. Market anarchists take the idea of laissez-faire to its extreme by opposing all taxation, preferring law and order to be privately funded.

Lawyers and Law Students! Can you improve this definition? Send us your improvements and we'll provide a link back to your website or blog.