What is Laissez Faire definition/concept

In the late 18th century, some French merchants and businessmen organized a protest campaign against state interference . One of the slogans used to express this malaise was “laissez faire, laissez passer”, which literally means “let it go, let it go”. With this concept they communicated an aspiration: economic activity should not be subject to excessive state control.

The laissez faire campaign crossed French borders and soon became popular in countries like Great Britain and the United States.

A commonly used concept against state intervention

The claim motto has become an economic doctrine. This French expression is used in two senses. On the one hand, it is synonymous with anti-interventionism and, at the same time, it is used in opposition to the idea of ​​nationalization. Laissez Faire

The theorists of economic liberalism were the first to defend the doctrine of laissez faire. Scottish economist Adam Smith is considered the father of liberalism and the first theorist of capitalism.

Liberalism and capitalism are closely united and both are based on the following general principles: the defense of freedom and individual rights, free trade , freedom of enterprise and respect for private property. Defending these ideals necessarily means that the state must not interfere in economic affairs. Consequently, the laissez faire doctrine is an essential part of any liberal-cut approach.

Liberals may disagree in many respects, but most share the following ideas:

1) freedom is the fundamental value of politics and economics, Laissez Faire

2) the government of a nation should intervene in society only when liberties are threatened,

3) respect for all individuals is more important than the collectivity and the idea of ​​a common good is considered an abstraction that is meaningless or ends up justifying the collectivist proposals of communism,

4) liberals are skeptical of any form of power, including state power,

5) defend the equality of all individuals before the law,

6) the economic system must be organized spontaneously and with the least possible intervention by the state (this is where the idea of ​​laissez faire is most appreciated).

A style of leadership

Concepts evolve and laissez faire is a good example of this. In addition to an economic doctrine, this expression is also used to refer to a modality of leadership. 

There are leaders and bosses who want to control all of their subordinates’ processes and adopt a very controlling attitude. Another very different attitude in leadership is laissez faire. Those who adopt this attitude provide their work team with tools so that projects can be put into practice.

In a nutshell, these leaders intervene as little as possible in the daily work of their employees and only participate when they can help. Laissez Faire

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