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Laissez-faire is an economic philosophy advocating minimal government intervention in the marketplace. It promotes the idea that free markets, driven by individual self-interest, lead to optimal economic outcomes. The term, which translates from French as "let do" or "let it be," emphasizes the belief that government regulation disrupts natural economic processes. Proponents argue that this approach fosters innovation and efficiency, while critics contend it can lead to inequality and market failures.
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