Laissez-faire economics, Alexis de Tocqueville's observations in the U.S., and the misconceptions about laissez-faire are highlighted in this detailed answer about government policies and economic systems.
Laissez-faire economics is the belief that economic markets should operate entirely free of government intervention for optimal efficiency. This approach, prevalent in the late 1800s in the U.S., allowed businesses to operate with minimal government interference.
French historian Alexis de Tocqueville visited the U.S. in the 1830s and admired Americans' voluntary associations to address community issues, illustrating a form of self-governance and local initiatives.
Laissez-faire is often misconstrued as a system where big businesses act unchecked; however, it originally aimed at a free-market economy without infringing on the rights of others.
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