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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.
A. V. Dicey's classic study published in 1905, Lectures on the Relation Between Law and Public Opinion in England During the Nineteenth Century, serves as the focal point for a reappraisal of the extent of laissez faire in British politics of the period and the causes which led to its decline and fall.