LAISSEZ FAIRE. By Robbie Mcanelly. Part of speech. Noun. Definition. In general, laissez faire is defined as abstention from interference.
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In general, laissez faire is defined as abstention from interference.
In regard to economics, laissez faire is defined as an economic environment in which transactions between private parties are free from government restrictions, tariffs, and subsidies with only enough regulations to protect property rights.