Laissez Faire was the idea that government should not interfere with or regulate industries and bussinesses. Economic philosophers in favor of laissez faire argued that government regulations interfere with the production of wealth, rather than help it grow. They believed that wealth would come if the government would allow free trade. Laissez faire means "let people do as they please."
I do not totally agree with this system. I believe the government should regulate trade to a certain extent, but just to keep the country safe. If we let the "people do as they please," there would be absolute chaos. Governments need to have a say in what goes on, but should not interfere so much that the people and businesses do not prosper.
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