LAISSEZ-FAIRE ECONOMY
(noun)Did you mean?
Definitions
There is 1 meaning of the phrase
Laissez-Faire Economy.
Laissez-Faire Economy - as a noun
An economy that relies chiefly on market forces to allocate goods and resources and to determine prices
Synonyms (Exact Relations)
market economyHypernyms (Closely Related)
economic systemeconomyHyponyms (Broadly Related)
Example Sentences
"The government implemented a laissez-faire economy, allowing businesses to operate freely without government intervention."
"In a laissez-faire economy, prices are determined by the market forces of supply and demand."
"Advocates for a laissez-faire economy argue that it fosters innovation and economic growth."
"Critics of a laissez-faire economy claim that it can lead to income inequality and exploitation of workers."
"During the 19th century, many countries adopted a laissez-faire economy as a response to mercantilism."
