Laissez faire is a French phrase and means to let things pass. The term is used to describe an economic system where the government intervenes as little as possible and leaves the private sector to organize most economic activity through markets. Classical economists were great advocates of a laissez faire system.
Check Also
National Philosophy Day: Date, History, Wishes, Messages, Quotes
National Philosophy Day: This day encourages critical thinking, dialogue, and intellectual curiosity, addressing global challenges …