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'' translates into, "Do what you will. | + | ''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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Revision as of 07:47, March 29, 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.