laissez faire

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Word: Laissez-faire

Part of Speech: Noun

Definition: Laissez-faire is a French term that means "let do" or "let it be." In English, it refers to a belief or principle that the government should not interfere in business or economic matters. It suggests that businesses operate best when they are free from government control.

Usage Instructions:

• You can use "laissez-faire" when discussing economics, politics, or business practices.
• It is often used in the context of economic policies or philosophies.

Example Sentence:

"The government adopted a laissez-faire approach to the economy, allowing businesses to operate without strict regulations."

Advanced Usage:

In advanced discussions, "laissez-faire" might be applied to describe a broader philosophy of minimal intervention in various aspects of life, not just economics. For instance, one might discuss a laissez-faire attitude in parenting, meaning that the parents allow their children to make their own choices without much guidance.

Word Variants:

• Laissez-faire economics: This refers specifically to economic theories that advocate for minimal government intervention.
• Laissez-faire capitalism: A system where private parties can operate freely without government restrictions.

Different Meanings:

While "laissez-faire" primarily refers to economic policies, it can also describe a general attitude of non-interference in other areas of life.

Synonyms:

• Free market
• Non-interventionism
• Hands-off approach

Idioms and Phrasal Verbs:

While "laissez-faire" itself is not commonly used in idioms or phrasal verbs, the concept can relate to phrases like: - "Let it be" – allowing things to happen without interference. - "Hands-off" – referring to a non-intrusive approach.

Summary:

"Laissez-faire" is an important concept in economics that emphasizes the idea that businesses thrive best when left to operate freely without government restrictions.

Academic

Noun

1. the doctrine that government should not interfere in commercial affairs

Synonyms

• individualism