LAISSEZ-FAIRE ECONOMY

Pronunciation (US):

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 Dictionary entry overview: What does laissez-faire economy mean? 

• LAISSEZ-FAIRE ECONOMY (noun)
  The noun LAISSEZ-FAIRE ECONOMY has 1 sense:

1. an economy that relies chiefly on market forces to allocate goods and resources and to determine prices

  Familiarity information: LAISSEZ-FAIRE ECONOMY used as a noun is very rare.

 Dictionary entry details 

• LAISSEZ-FAIRE ECONOMY (noun)

Sense 1

Meaning:

An economy that relies chiefly on market forces to allocate goods and resources and to determine prices

Classified under:

Nouns denoting groupings of people or objects

Synonyms:

free enterprise; laissez-faire economy; market economy; private enterprise

Hypernyms ("laissez-faire economy" is a kind of...):

economic system; economy (the system of production and distribution and consumption)

Hyponyms (each of the following is a kind of "laissez-faire economy"):

capitalism; capitalist economy (an economic system based on private ownership of capital)