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			November 24, 2009

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laissez-faire, Economics: Terms And Concepts

Related Category: Economics: Terms And Concepts

laissez-faire[les´´A fAr´] Pronunciation Key [Fr.,=leave alone], in economics and politics, doctrine that an economic system functions best when there is no interference by government. It is based on the belief that the natural economic order tends, when undisturbed by artificial stimulus or regulation, to secure the maximum well-being for the individual and therefore for the community as a whole.

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