laissez-faire capitalism
Definitions
An economic system in which transactions between private parties are free from government intervention, such as regulation, privileges, tariffs, and subsidies.
A policy or attitude of letting things take their own course, specifically advocating for minimal state interference in the workings of the free market.
Examples
Proponents of laissez-faire capitalism argue that minimal government intervention fosters the most efficient and innovative markets.
The economic policies of the nineteenth century were largely defined by a commitment to laissez-faire capitalism and free trade.
Synonyms
Free-market capitalism Unregulated market economy Laissez-faire economics Free enterprise Pure capitalism
Antonyms
Command economy Planned economy State-controlled economy Centralized economic planning Interventionism