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laissez-faire
[læs.eɪ ˌfeə(ɹ)]
econ., fr.
a policy of governmental non-interference in economic affairs
;
a doctrine opposing governmental interference in economic affairs beyond the minimum necessary for the maintenance of peace and property rights
(
...argued that the problem with oil prices was too much laissez-faire
)
fig., fr.
a policy of non-interference by authority in any competitive process
;
a philosophy or practice characterized by a usually deliberate abstention from direction or interference especially with individual freedom of choice and action
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