What is laissez-faire?
Q: What is laissez-faire?
A: Laissez-faire is an economic and political philosophy that means to "leave alone" and refers to the belief that government should not interfere with business and economy.
Q: What decisions are left for the private individual to make according to laissez-faire?
A: According to laissez-faire, finance and trade decisions are left for the private individual to make.
Q: What do supporters of laissez-faire claim?
A: Supporters of laissez-faire claim that a free and unregulated market creates a natural balance between supply and demand.
Q: In what century was the phrase "laissez-faire" supposed to have come from?
A: The phrase "laissez-faire" was supposed to have come from the 18th century.
Q: Who coined the phrase "laissez-faire"?
A: The phrase "laissez-faire" was not coined by one particular person, but rather was derived from a phrase used by a French businessman named Le Gendre in response to a question posed by the finance minister Colbert.
Q: What was the response of Le Gendre when asked by Colbert about how the government could help commerce?
A: When asked by Colbert about how the government could help commerce, Le Gendre replied "Let us do what we want to do".
Q: What is the belief behind laissez-faire philosophy?
A: The belief behind laissez-faire philosophy is that unregulated competition in business represents the best path to progress.
