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English definition of “laissez-faire”

laissez-faire

noun [U] (also laisser faire)  /ˌles·eɪˈfeər, ˌleɪ·seɪ-/ us  
politics & government an economic theory or plan in which a government does not have many laws or rules to control the buying and selling of goods and services
(Definition of laissez-faire from the Cambridge Academic Content Dictionary © Cambridge University Press)
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