In economics, Laissez-Faire means allowing industry to be free of state intervention, especially restrictions in the form of tariffs and government monopolies. The growth of industry in England in the early 19th century and American industrial growth in the late 19th century, both occurred in a laissez-faire capitalist environment.
The laissez-faire period ended by the beginning of the 20th century, when large monopolies were broken up and government regulation of business became the norm. It relies heavily on the protection of private property and allowing individuals to operate without pressure from the government or other individuals.
Court systems or other well served oviducal laws aid laissez-faire economic policies, since individuals are free to keep their wealth gained in this economic environment.
