laissez-faire economy

• Sistema económico en el que las transacciones entre partes privadas están libres de intervención estatal, como regulaciones, aranceles o subsidios, permitiendo que el mercado opere según sus propios principios de oferta y demanda.

An economic system in which transactions between private parties are free from government intervention such as regulations, privileges, tariffs, and subsidies, allowing the market to operate on its own principles of supply and demand.

1. Economic policy of minimal government interventionC1formal

   An economic system where transactions between private parties are free from government restrictions, tariffs, and subsidies, with only enough regulation to protect property rights.

   economía de laissez-faire

   • The country adopted a laissez-faire economy, allowing businesses to operate with very few regulations.
   • Critics argue that a pure laissez-faire economy can lead to monopolies and inequality.
   • During the 19th century, many Western nations moved towards a laissez-faire economy.