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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 Economics Defined. Laissez-Faire economics is an economic theory and practice. It suggests that economic systems should operate with minimal government interference. Under this system, private businesses are allowed to act and operate as dictated by market forces. Some of the generally accepted principles of laissez-faire economics are: