laissez - faire

Literally, French for "Let do." The classical liberal (and modern libertarian) doctrine that the economic affairs of society are best guided by the free and autonomous decisions of individuals in the marketplace, to the near exclusion of government interference in economic matters. That is, the doctrine that government should almost always leave people alone and let them do as they please, so long as they respect the personal and property rights of others.

[See also: liberalism, libertarianism]