laissez-faire economy

Definitions of laissez-faire economy
  1. noun
    an economy that relies chiefly on market forces to allocate goods and resources and to determine prices
    synonyms: free enterprise, free market, market economy, private enterprise
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    types:
    capitalism, capitalist economy
    an economic system based on private ownership of capital
    venture capitalism
    capitalism that invests in innovative enterprises (especially high technology) where the potential profits are large
    type of:
    economic system, economy
    the system of production and distribution and consumption
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