laissez-faire
UK[ˌleɪseɪ ˈfeə(r)]US[ˌleɪseɪ ˈfer]
n
A policy or attitude of letting things take their own course, without interfering, especially in economic affairs.
adj
Relating to or promoting such a policy of non-interference.
Etymology
The term "laissez-faire" originates from 18th-century French economic philosophy, specifically from the phrase "laissez faire, laissez passer" ("let do, let pass"), attributed to the merchant Legendre in response to a question from the finance minister Colbert about how the state could help commerce. The phrase was championed by the Physiocrats, who argued against government intervention in trade and industry. It entered English in the early 19th century as a direct borrowing, encapsulating the core doctrine of free-market capitalism where economic forces are allowed to operate without regulation. The logic moves from a literal, active command ("allow to do") to an abstract principle of governmental and economic non-interference.
Analysis
This is a loan phrase from French, adopted as a fixed compound in English. It is not productively segmented using English morphemes. The phrase "laissez faire" is an imperative construction meaning "let do."
Examples
The country's economy was built on a principle of laissez-faire.
He has a rather laissez-faire approach to managing his team.
Critics argue that pure laissez-faire policies can lead to social inequality.