- laissez-faire lais‧sez-faire [ˌleseɪ ˈfeə, ˌleɪ- ǁ -ˈfer] also laisser-faire noun [uncountable]ECONOMICS the idea that governments should do as little to the economy as possible and allow private business to develop without the state controlling or influencing it:
• a balance between laissez-faire and old style statism
• The computer industry is almost entirely unregulated, governed only by the Darwinian laws of laissez-faire economics.
* * *laissez-faire UK US (also laisser-faire) noun [U]► ECONOMICS, GOVERNMENT the idea that businesses should be free to develop without the involvement or control of government: »
Those who subscribe to absolute laissez-faire economics, or no government regulation, are sometimes referred to as economic anarchists.► the idea that people should be free to choose how to do things, without too much control from someone in authority: »
If you choose a laissez-faire management style, you give your staff room to make their own decisions.
Financial and business terms. 2012.