laissez faire
laissez-faire (noun phrase)
/ˌlɛ.seɪˈfɛr/
Meaning
- Allows the economy to run with little or no government control.
- Describes a belief in minimal interference in personal or business decisions.
- Refers to a leadership style that lets people make choices independently.
- Means “let do” in French, showing a hands-off approach to regulation.
Example Sentences
- The new president promoted a laissez-faire approach to boost private sector growth.
- His laissez faire parenting style gave the kids complete freedom to make their own choices.
- Critics argued that a laissez-faire attitude toward environmental rules led to more pollution.
- The team struggled under a laissez faire manager who rarely gave direction.
- She admired the company’s laissez-faire policy that encouraged creative independence.
Origin and History
The term “laissez-faire,” integral to economic and political discourse, champions minimal governmental intervention in economic activities. Its origins are steeped in historical anecdotes, philosophical doctrines, and linguistic evolution.
The Colbert-Le Gendre Anecdote
One widely accepted origin story dates back to around 1681 during a meeting between Jean-Baptiste Colbert, the French Controller-General of Finances, and a group of merchants led by M. Le Gendre. When Colbert inquired how the state could assist their commerce, Le Gendre purportedly responded, “Laissez-nous faire,” translating to “Leave it to us” or “Let us do [it].” This interaction is often cited as the genesis of the term, emphasizing a plea for non-interference from the government in economic matters.
René de Voyer, Marquis d’Argenson’s Contribution
The phrase “laissez-faire” first appeared in print in a 1751 article in the Journal économique, authored by French minister and free-trade advocate René de Voyer, Marquis d’Argenson. He had previously used the term in his personal diaries in 1736, expressing the sentiment that public authorities should adopt a hands-off approach:
“Laissez faire, telle devrait être la devise de toute puissance publique, depuis que le monde est civilisé.”
Jacques Claude Marie Vincent de Gournay’s Influence
French economist Jacques Claude Marie Vincent de Gournay is often credited with popularizing the term. As an advocate of free trade and a disciple of François Quesnay, Gournay fervently supported the removal of trade restrictions and industrial deregulation in France. He is also attributed with coining the term “bureaucracy.”
François Quesnay and the Physiocrats
The Physiocratic School, led by François Quesnay, placed “laissez-faire” at the heart of their economic principles. They believed in a natural economic order where individuals, by pursuing their self-interests, would contribute to the general welfare without government intervention. This philosophy was a reaction against the mercantilist policies prevalent in France at the time.
Earliest Printed Record
The earliest known printed use of “laissez-faire” in an English context dates back to 1774 in George Whatley’s “Principles of Trade,” co-authored with Benjamin Franklin. The work recounts the Colbert-Le Gendre anecdote, marking the introduction of the phrase into English economic literature.
Geographical Origins
The phrase “laissez-faire” undeniably originated in France, emerging from discussions among French economists and policymakers in the late 17th and early 18th centuries. Its evolution reflects the shifting attitudes towards economic policy during that period, advocating for reduced governmental interference in commerce.
Synonyms
- hands-off approach
- non-intervention
- free-market policy
- minimal regulation
Variants
- laissez faire (without hyphen)
- laissezfaire (rare, condensed spelling)
- laissez-faire economics
- laissez-faire capitalism
- laissez-faire leadership
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