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Laissez-faire
LAISSEZ-FAIRE

Definition: (from French) The policy of allowing private businesses to develop without government control: a general principle of non-interference.
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* All nine elements should be in.


1. Purposeful and necessary, in the opinion of government.

2. Operating guidelines exists and these are as set by the government.

3. Private businesses will fulfil all their legal obligations. And also perform corporate social responsibility.

4. The workforce does not get short-changed as a result of government's non-interference. That is, labour is well or appropriately remunerated.

5. Industrial and/or labour relations are excellent (connect to #4).

6. Publicly quoted companies are not disadvantaged as a direct fallout of policy.

7. Activities of businesses do not damage the environment or despoil the ecosystem (to emphasize).

8. Policy is effective and need not be reformed. That is, the economy develops or grows and the people are benefiting as a result of the freedom allowed private companies to operate. In other words, policy lasts for as long as necessary, until ... .

9. Serves purpose(s) (connect to #8).
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See perfect PRIVATE SECTOR.

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