Difference between revisions of "Laissez faire"
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| − | '''Laissez faire''' is the economic theory of a true free market with no government intervention. ''Laissez faire'' approximately translates into, "Do what you will" from French. A noted advocate of the ''laissez faire'' style of economy was [[Adam Smith]], who pioneered the theory of modern [[capitalism]]. | + | '''Laissez faire''' is the economic theory of a true [[free market]] with no [[government]] intervention. ''Laissez faire'' approximately translates into, "Do what you will" from French. A noted advocate of the ''laissez faire'' style of economy was [[Adam Smith]], who pioneered the theory of modern [[capitalism]]. |
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| + | [[Category:Economics]] | ||
Revision as of 05:35, April 17, 2007
Laissez faire is the economic theory of a true free market with no government intervention. Laissez faire approximately translates into, "Do what you will" from French. A noted advocate of the laissez faire style of economy was Adam Smith, who pioneered the theory of modern capitalism.