Laissez-Faire

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Definition

From the Wikipedia:

"In economics, laissez-faire means allowing industry to be free from state intervention, especially restrictions in the form of tariffs and government monopolies.

The phrase is French and literally means "let do", but it broadly implies "let it be", or "leave it alone." (http://en.wikipedia.org/wiki/Laissez-faire)

More Information

Related: Free Trade

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