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Laissez-faire is an economic philosophy that advocates minimal government intervention in the marketplace, allowing individuals and businesses to operate freely. The term, which translates to "let do" in French, emphasizes the belief that free markets lead to more efficient outcomes and innovation. Proponents argue that when people are allowed to pursue their own interests, it ultimately benefits society as a whole. Critics, however, point out that such an approach can lead to inequalities and market failures without regulatory oversight.

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