Laissez-faire (French for "leave to do") is a free market economic theory that opposes government intervention in the economy and favorus limited government regulation. It's based on the belief that individuals and companies should be allowed to pursue their self-interest without interference from the government, as it's believed that this will lead to the most efficient and prosperous economy. In a laissez-faire system, the role of the government is limited to protecting property rights and enforcing contracts, while the market is left to regulate itself through supply and demand.