Definitions from the Web
Laissez-Faire
Definition:
Laissez-Faire, derived from French, is a philosophy that promotes minimal government intervention in economic affairs. It advocates for free-market capitalism, non-interference by the government in business activities, and limited regulations on industries.
Examples:
- Noun: The proponents of laissez-faire argue that unrestricted competition between companies results in efficient markets and overall economic prosperity.
- Adjective: The company adopted a laissez-faire approach towards employee management, allowing workers to have autonomy and make decisions without strict supervision.
- Verb: The government aims to laissez-faire certain industries to stimulate entrepreneurship and innovation.
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