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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.
In American history, the term laissez-faire capitalism has been used to refer to... In its purest form, laissez-faire capitalism is the same thing as a pure market economy. This is an economy in which the government does not take any part in managing the economy. In such an economy, there would be no such things as, for example, minimum wage laws or workplace safety laws.