laissez-faire

An economic and political philosophy advocating minimal government intervention in markets and individual affairs. Coined by French Physiocrats in the 18th century, it became the foundation of classical liberal economics (Adam Smith, Ricardo). The tension between laissez-faire capitalism and state intervention defines modern economic policy debates worldwide, including in India.

“Le laissez-faire est la doctrine économique qui prône la liberté du marché sans intervention de l'État.”

In English: “Laissez-faire is the economic doctrine advocating market freedom without state intervention.”