<P> Laissez - faire ( / ˌlɛseɪˈfɛər / ; French : ( lɛsefɛʁ ) ( listen ) ; from French : laissez faire , lit . ' let do ' ) is an economic system in which transactions between private parties are free from government intervention such as regulation , privileges , tariffs , and subsidies . The phrase laissez - faire is part of a larger French phrase and basically translates to `` let ( it / them ) do '' , but in this context usually means to `` let go '' . </P>
<P> Laissez - faire ( / ˌlɛseɪˈfɛər / ; French : ( lɛsefɛʁ ) ( listen ) ; from French : laissez faire , lit . ' let do ' ) is an economic system in which transactions between private parties are free from government intervention such as regulation , privileges , tariffs , and subsidies . The phrase laissez - faire is part of a larger French phrase and basically translates to `` let ( it / them ) do '' , but in this context usually means to `` let go '' . </P>
when economist use the term laissez-faire what economic idea are they referring to
when economist use the term laissez-faire what economic idea are they referring to
. ' let do ' ) is an economic system in which transactions between private parties are free from government intervention such as regulation , privileges , tariffs
. ' let do ' ) is an economic system in which transactions between private parties are free from government intervention such as regulation , privileges , tariffs