laissez-faire

Word relationships

• free-market: Focuses on the market structure rather than the government policy stance.
• non-interventionism: A broader political term applied to foreign affairs as well as economic policy.

• interventionism: Advocates active government regulation and direct market management.
• protectionism: Uses tariffs and quotas to shield domestic industries from foreign market forces.

Commonly confused with

• deregulation: Deregulation is the act of removing existing laws, while laissez-faire is a overarching philosophical policy of non-interference.

Word family

• laissez-faireism (noun): The doctrine or practice of non-interference in business affairs.

Collocations

• laissez-faire capitalism
• laissez-faire approach
• laissez-faire doctrine

Example sentences

• "The government adopted a strict laissez-faire policy during the early industrial era, allowing unrestrained market competition." Economic history
• "Her laissez-faire management style gave senior researchers total freedom to direct their own projects." Corporate leadership

Memory hook

LAISSEZ sounds like 'lazy' — a government acting 'lazy' by not stepping into market affairs. Let it be: hands off the market.

When not to use

Do not use to describe general laziness or standard delegation; it specifically denotes a deliberate policy of non-interference.

Fun facts

• The full French phrase was originally 'laissez faire, laissez passer' ('let do, let pass'), referring to trading without internal customs tolls.

Related words

equilibrium, doctrine, scarcity

Explore more words

deregulation, libertarian, autonomy, self-governing, regulation, permissive