What is laissez-faire?

Laissez-faire is when people and businesses are allowed to do what they want, without too much help or rules from others.

Imagine you're playing in a park with your friends. If it's laissez-faire, no one tells you how to play, you can choose which game to play, who to team up with, and even if you want to make up new rules on the spot! There’s no grown-up bossing everyone around.

Think of it like a toy box that's totally open. You don’t have to ask permission to take out your favorite car or robot, you just grab it and start playing. Everyone else can do the same. Some kids might build a big tower, while others race their toys, all without anyone telling them what to do.

In laissez-faire, there are very few rules. It's like having only one rule in your game: you have to follow the rules you agree on. That makes things fun and flexible, just like when you're free to make up your own games with your friends!