How is laissez faire pronounced?

Laissez faire, typically pronounced “LAY-zay fair,” was originally a French economic term meaning “allow to do,” as in: the government does not interfere in the marketplace. For example, if a product is poorly made, people won’t buy it — no need for the government to step in.

Does laissez faire mean lazy?

The mispronunciation “lazy-fare” is almost irresistible in English, but this is a French expression meaning “let it be” or, more precisely, “the economic doctrine of avoiding state regulation of the economy,” and it has retained its French pronunciation (though with an English R): “lessay fare.” It is most properly …

What is a distinguishing feature of laissez faire capitalism?

The driving principle behind laissez-faire, a French term that translates to “leave alone” (literally, “let you do”), is that the less the government is involved in the economy, the better off business will be, and by extension, society as a whole. Laissez-faire economics is a key part of free-market capitalism.

What is an example of laissez faire?

An example of laissez faire are the economic policies held by capitalist countries. An example of laissez faire is when a homeowner is allowed to plant whatever they want to grow in their front yard without having to get permission from their city. A policy of non-interference by authority in any competitive process.

What is a synonym for laissez faire?

free enterprise, private enterprise, free trade, individualism, non-intervention, free-market capitalism, private ownership, market forces, deregulation. non-interference, non-involvement, indifference.

Who said laissez-faire?

Vincent de Gournay
Vincent de Gournay, a French Physiocrat and intendant of commerce in the 1750s, popularized the term laissez-faire as he allegedly adopted it from François Quesnay’s writings on China. Quesnay coined the phrases laissez-faire and laissez-passer, laissez-faire being a translation of the Chinese term wu wei (無為).

What is the opposite of laissez-faire?

As an economic doctrine, dirigisme is the opposite to laissez-faire, stressing a positive role for state intervention in curbing productive inefficiencies and market failures.

What is Delegative?

Laissez-faire leadership, also known as delegative leadership, is a type of leadership style in which leaders are hands-off and allow group members to make the decisions. Researchers have found that this is generally the leadership style that leads to the lowest productivity among group members.