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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.
Conceivably, British laissez-faire was a political and economic myth in the sense formulated by George Sorel half a century ago, that is, a slogan or war cry employed by new forces of enterprise in their political-economical war against the landed oligarchy.