Laissez-Faire

Definition: An economic approach favoring limited government intervention in private business and markets.

Example

A policy debate compares allowing market forces to guide development with imposing additional land-use controls.

Keep the distinction clear

The term describes a policy philosophy. It does not eliminate existing zoning, licensing, contract, consumer-protection, or fair-housing requirements that real estate professionals must follow.

Related terms

Police Power · Zoning Ordinance · Antitrust Laws

Keep studying

FREC Course II Syllabus: What to Study for the Broker State Exam

References: California DRE: real estate glossary

Pronunciation (US): less-ay-FAIR (capitals show stress)

Pronunciation reference: Merriam-Webster