“Laissez-faire” is a French term that translates to “let it be” or “leave it alone” in English. It refers to an economic and political philosophy that advocates for minimal government intervention in economic activities and commerce. In a laissez-faire system, the economy is believed to function best when left to its own devices, without excessive regulation or control. This approach promotes free markets, individual economic freedom, and limited government interference.
In Indonesian, the equivalent term for “laissez-faire” is “laissez-faire.”
Sample Sentences:
- The government’s laissez-faire approach allows businesses to operate with minimal interference.
- The economist argued in favor of a laissez-faire economy, emphasizing the role of market forces.
- The country’s economic policy shifted towards a more laissez-faire model, reducing regulations.
- Critics of laissez-faire economics believe it can lead to income inequality and exploitation.
- The entrepreneur praised the benefits of a laissez-faire system for encouraging innovation.
- The debate over government intervention versus laissez-faire policies continues in economic discussions.
- The laissez-faire philosophy values individual economic freedom over centralized control.
- The country’s economic prosperity was attributed to its adoption of laissez-faire principles.
- The government’s hands-off approach is a hallmark of its laissez-faire economic policy.
- The financial crisis prompted a reevaluation of the effectiveness of laissez-faire economics.
Synonyms:
- Free-market
- Non-interventionist
- Minimal regulation
- Hands-off
Antonyms:
- Interventionist
- Regulated
- Controlled
- Centralized
Related Words:
- Economic liberalism
- Market forces
- Self-regulation
- Capitalism
Phrasal Verbs:
- Advocate for laissez-faire
- Embrace a free-market approach
- Implement minimal intervention
Idioms:
- “Let the chips fall where they may” (allow events to unfold without interference)
- “Sink or swim” (rely on personal ability without assistance)
Conclusion: “Laissez-faire” encapsulates an economic philosophy that centers on the belief in the efficacy of free markets and limited government intervention. Its usage highlights the intricate relationship between economics and governance, prompting us to consider the implications of different approaches to economic systems. This article underscores the importance of understanding such terms to grasp the fundamental concepts that shape societies and economies. “Laissez-faire” reflects the ongoing debate about the balance between economic freedom and regulatory safeguards, urging us to explore the impact of these principles on prosperity, inequality, and societal well-being. The term serves as a reminder of the power of economic policies to shape societies, encouraging critical analysis and informed decision-making in matters of governance and economics.
