An economy or market with no regulation or restrictions on how the said market operates, thus allowing the most efficient allocation of a resources in an economy. The laissez-faire or 'market system' is the unplanned capitalist economic system. The extreme opposite is N.Korea, Cuba, China etc.
The 'passive' approach, or that of non-intervention to Macroeconomic management (as stated by harry flashman) is just one feature of the laissez-faire or market system.
Fr. Either a term meaning a policy of non-interference in economics or meaning an indolent homosexual.
Pierre, an economic adviser to the finance minister was going to propose a laissez-faire approach to the recession but was such a laissez-faire that he never got around to it.
By Nananne
Laissez Faire Pimping
n. Describes a person that is able to get many girls without actively pursuing. The pimp is able to let the ladies come to him by being desirable at their first meeting.
Mat, practicing laissez faire pimping, scored many girls with little effort.
