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'''Laissez faire''' (let us do or let us work) is a general principle of non-interventionism on the part of [[federal government]], allowing states to handle matters at their level. In economic theory, the term implies a true [[free market]] with no [[government]] intervention. Modern press approximately translates ''laissez faire'' 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]], but as [[Thomas Malthus]] and [[David Ricardo]], did not use the term.
'''Laissez faire''' (let us do or let us work) is a general principle of non-interventionism on the part of [[federal government]], allowing states to handle matters at their level. In economic theory, the term implies a true [[free market]] with no [[government]] intervention. Modern press approximately translates ''laissez faire'' 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]], but as [[Thomas Malthus]] and [[David Ricardo]], did not use the term.
::''Laissez faire, laissez passer, le monde va de lui même.'' Vincent de Gournay.
::''Laissez faire, laissez passer, le monde va de lui même.'' Vincent de Gournay. \
Although elements of the [[laissez-faire]] principle are incorporated into all capitalist economies, it is always limited to some extent. Currently [[Somalia]] is the only nation where pure laissez-faire is practiced. Pure laissez-faire was experimented with in Chile during the reign of General Pinochet, but the experiment was unsuccessful.
== See also ==
== See also ==