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.