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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 noun from the Cambridge Business English Dictionary © Cambridge University Press)
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