In economics what does laissez faire mean ........

Political Theory And International Order (PCS) Political Theory

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In economics, what does laissez-faire mean?

People should be left alone to do whatever they want.

Life should be made as fair as possible

The state should exercise detailed control over the economy

The state should not interfere in the detailed operations of the economy

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Explanation:

Some believers in laissez-faire might be anarchists, but the overwhelming majority believe that human activity should be restricted by a framework of law. Believers in laissez-faire believe that life in a free market economy is already as 'fair' as it gets; any attempt to make it different would actually make it worse