"Laissez-faire" is a French expression that means "let do" or "leave alone". Adam Smith, a Scottish economist, used this expression to argue that governments should keep their hands off the economy and allow individuals and businesses to freely engage in economic activities without interference. It is often associated with the free market and capitalism.

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"Laissez-Faire

Question 117

Multiple Choice

"Laissez-faire":

A) is the rallying cry of the Gay Liberation Movement
B) was Karl Marx's exhortation to the workers of the world
C) is the French expression Adam Smith used to mean that government should keep its hands off the economy
D) is the economic theory introduced to the U.S. by Keynes

Correct Answer: