The government taking a hands-off approach is known as:

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Laissez faire is a French term meaning "let it be" or "let people do as they choose." In economics, it refers to a hands-off approach where the government does not interfere with the workings of the market. This approach is characterized by minimal government intervention, low taxes, and minimal regulations. Laissez faire is a French term meaning "let do" or "let it be." In economics, it refers to a hands-off government approach in which the government does not interfere with economic transactions or regulate individual economic activities. It is often associated with free-market economies and is the opposite of a command economy, in which the government controls all aspects of economic activity.

The Government Taking a Hands-Off Approach Is Known As