laissez-faire economy


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Related to laissez-faire economy: laisser faire
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.laissez-faire economy - an economy that relies chiefly on market forces to allocate goods and resources and to determine priceslaissez-faire economy - an economy that relies chiefly on market forces to allocate goods and resources and to determine prices
capitalism, capitalist economy - an economic system based on private ownership of capital
economic system, economy - the system of production and distribution and consumption
References in periodicals archive ?
But within six months of its implementation, falling prices and a struggling economy forced the repeal of the act, which returned the country to the laissez-faire economy that had existed before 1914, when there was a free-market economy with little or no government involvement.
Even when compared to Singapore -- traditionally dismissed by Hong Kong residents as an excessively taxed authoritarian city-state, compared to their own low-tax laissez-faire economy -- Hong Kong comes up short.
The introductory chapter gives an overview of the development of thinking on laissez-faire economy over the centuries.