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| lais·sez-faire [ lè say fér, lè zay fér ] or lais·ser-faire [ lè say fér, lè zay fér ] |
noun |
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| Definition: |
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1. principle of no regulation of industry: the principle that the economy works best if private industry is not regulated and markets are free
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2. refusal to interfere: refusal to interfere in other people's affairs, or the practice of letting people do as they wish
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| [< French, "allow to do"] |
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