Laissez-faire is a school of economic thought that originated in the 18th century. The term translates to “let do” or “leave alone”.
They are hostile to regulation in general, as well as trade restrictions and even minimum wages. The term itself is thought to have come from a meeting in 1681 between the French finance minister and a group of businessmen.
When he asked the assembled businessmen how he could be of service to them, the response was simply: “Laissez-nous faire”, literally meaning “leave it to us”.