Encyclopedia > Laissez-faire capitalism

Article Content

Laissez-faire capitalism

Laissez-faire capitalism is, roughly stated, the doctrine that the free market functions to the greatest good when left unfettered and unregulated by government.

Historically the term 'Laissez-faire' was first used in the 1700s by French physiocrats in opposition to mercantilism. Later it was popularized by being taken out of context from the works of Adam Smith and John Stuart Mill.

Featured Article

Holtsville, New York

... age is 34 years. For every 100 females there are 96.1 males. For every 100 females age 18 and over, there are 93.9 males. The median income for a household in the ...