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Laissez faire is the economic policy of a free market economy, this means a lot of competition between companies and very little government intervention in the economy. 2 people found this useful. Edit.
Laissez-faire (/ËlÉseÉªËfÉr-/ , [lÉsefÉÊ]. ) is an economic system in which transactions between private parties are free from government interference such as regulations, privileges, tariffs, and subsidies. The phrase laissez-faire is part of a larger French phrase and literally translates to let (it/them) go, but in this context usually means to let go.