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English definition of “laissez-faire”

laissez-faire

noun [U] (also laisser-faire)
 
 
ECONOMICS, GOVERNMENT the idea that businesses should be free to develop without the involvement or control of government: Those who subscribe to absolute laissez-faire economics, or no government regulation, are sometimes referred to as economic anarchists.
the idea that people should be free to choose how to do things, without too much control from someone in authority: If you choose a laissez-faire management style, you give your staff room to make their own decisions.
(Definition of laissez-faire from the Cambridge Business English Dictionary © Cambridge University Press)
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