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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.
Some philosophers have advocated for a laissez-faire system of economy where the government retains a hands off approach to regulating the economy, however realistically, in a system using the market economy, the government does play some role in regulation. 7 people found this helpful.