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Article:Laissez-faire
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{{original research|date=December 2013}}
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yes i know of this. of restrictions on trade and the deregulation of industry in France. Gournay was delighted by the Colbert-LeGendre anecdote,<ref>According to J. [[Anne-Robert-Jacques Turgot, Baron de Laune|Turgot]]'s "Eloge de Vincent de Gournay," '' Mercure'', August, 1759 (repr. in ''Oeuvres of Turgot'', vol. 1 [http://books.google.com/books?id=5KQALAckPr8C&dq=Eloge%20de%20Gournay&pg=PA288#v=onepage&q&f=false p.288].</ref> and forged it into a larger maxim all his own: "''Laissez faire et laissez passer''" ('Let do and let pass'). His motto has also been identified as the longer "''Laissez faire et laissez passer, le monde va de lui même!''" ("Let do and let pass, the world goes on by itself!"). Although Gournay left no written tracts on his economic policy ideas, he had immense personal influence on his contemporaries, notably his fellow [[Physiocrats]], who credit both the ''laissez-faire'' slogan and the doctrine to Gournay.<ref>Gournay was credited with the phrase by [[Jacques Turgot]] ("Eloge a Gournay", ''Mercure'' 1759), the [[Victor de Riqueti, marquis de Mirabeau|Marquis de Mirabeau]] (''Philosophie rurale'' 1763 and ''Ephémérides du Citoyen'', 1767.), the [[Comte d'Albon]] (,"Éloge Historique de M. Quesnay", ''Nouvelles Ephémérides Économiques'', May, 1775, p.136-7. ) and [[Pierre Samuel du Pont de Nemours|DuPont de Nemours]] (Introduction to ''Oeuvres de Jacques Turgot'', 1808–11, Vol. I, p.257 and p.259 (Daire ed.)) among others</ref>
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{{Capitalism |Systems}}
 
{{Libertarianism sidebar |Concepts}}
 
 
'''''Laissez-faire''''' ({{IPAc-en|ˌ|l|ɛ|s|eɪ|ˈ|f|ɛər|-}}, {{IPA-fr|lɛsefɛʁ|lang|laissez-faire.ogg}}) is an economic environment in which transactions between private parties are free from [[government]] restrictions, [[tariff]]s, and [[Subsidy|subsidies]], with only enough [[regulation]]s to protect [[property rights]].<ref name="Gaspard, Toufick 2004">Gaspard, Toufick. ''A Political Economy of Lebanon 1948–2002: The Limits of Laissez-faire''. Boston: Brill, 2004. Print</ref> The phrase ''laissez-faire'' is [[French language|French]] and literally means "let [them] do," but it broadly implies "let it be," "let them do as they will," or "leave it alone."
 
 
==Etymology==
 
According to historical legend, the phrase stems from a meeting in about 1681 between the powerful French finance minister [[Jean-Baptiste Colbert]] and a group of French businessmen led by a certain M. Le Gendre. When the eager [[Mercantilism|mercantilist]] minister asked how the French state could be of service to the merchants and help promote their commerce, Le Gendre replied simply "''Laissez-nous faire''" ("Let us be," literally "Let us do").<ref>[http://commons.wikimedia.org/w/index.php?title=File%3AJournal_oeconomique_-_janvier_1751.djvu Journal Oeconomique] 1751, Article by the French minister of finance.</ref>
 
 
The anecdote on the Colbert-Le Gendre meeting was related in a 1751 article in the ''Journal Oeconomique'' by the French minister and champion of [[free trade]], [[René Louis de Voyer de Paulmy d'Argenson|René de Voyer, Marquis d'Argenson]] – which happens to also be the phrase's first known appearance in print.<ref>M. d'Argenson, "Lettre au sujet de la dissertation sur le commerce du marquis de Belloni', Avril 1751, ''Journal Oeconomique'' [http://books.google.com/books?id=k4ABAAAAYAAJ&vq=morbleu&dq=editions%3ANYPL33433007441680&lr&pg=RA3-PA111#v=onepage&q&f=false p.111]. See A. Oncken, ''Die Maxime Laissez faire et laissez passer, ihr Ursprung, ihr Werden'', 1866</ref> Argenson himself had used the phrase earlier (1736) in his own diaries, in a famous outburst:
 
 
{{quote|''Laissez faire, telle devrait être la devise de toute puissance publique, depuis que le monde est civilisé&nbsp;... Détestable principe que celui de ne vouloir grandir que par l'abaissement de nos voisins! Il n'y a que la méchanceté et la malignité du coeur de satisfaites dans ce principe, et l’intérêt y est opposé. Laissez faire, morbleu! Laissez faire!!''<ref>as quoted in J.M. Keynes, 1926, "The End of Laissez Faire". Argenson's ''Mémoirs'' were published only in 1858, ed. Jannet, Tome V, p.362. See A. Oncken (''Die Maxime Laissez faire et laissez passer, ihr Ursprung, ihr Werden'', 1866)</ref>
 
 
(Trans: "Let it be, that should be the motto of all public powers, since the world was civilized&nbsp;... That we cannot grow except by lowering our neighbors is a detestable notion! Only malice and malignity of heart is satisfied with such a principle and our (national) interest is opposed to it. Let it be, for heaven's sake! Let it be!)}}
 
 
The ''laissez faire'' slogan was popularized by [[Vincent de Gournay]], a French [[Physiocracy|Physiocrat]] and intendant of commerce in the 1750s, who is said to have adopted the term from [[François Quesnay]]'s writings on China.<ref>{{cite book|last=Baghdiantz McCabe|first=Ina|title=Orientalism in Early Modern France: Eurasian Trade Exoticism and the Ancien Regime|year=2008|publisher=Berg Publishers|isbn=978-1-84520-374-0|pages=271–272}}</ref> It was Quesnay who coined the term ''laissez-faire, laissez-passer,''<ref>{{cite web|title=Library of Economics and Liberty|url=http://www.econlib.org/library/Enc/bios/Quesnay.html|publisher=Liberty Fund, Inc.|accessdate=22 September 2013}}</ref><ref>{{cite web|title=Encyclopedia Britannica|url=http://www.britannica.com/EBchecked/topic/487095/Francois-Quesnay|publisher=Encyclopedia Britannica, Inc.}}</ref> laissez-faire being a translation of the Chinese term 無為 [[wu wei]].<ref>{{cite book|last=Clarke|first=J.J.|title=Oriental Enlightenment: The Encounter Between Asian and Western Thought|year=1997|publisher=Routledge|isbn=978-0415133760|page=50}}</ref> Gournay was an ardent proponent of the removal of restrictions on trade and the deregulation of industry in France. Gournay was delighted by the Colbert-LeGendre anecdote,<ref>According to J. [[Anne-Robert-Jacques Turgot, Baron de Laune|Turgot]]'s "Eloge de Vincent de Gournay," '' Mercure'', August, 1759 (repr. in ''Oeuvres of Turgot'', vol. 1 [http://books.google.com/books?id=5KQALAckPr8C&dq=Eloge%20de%20Gournay&pg=PA288#v=onepage&q&f=false p.288].</ref> and forged it into a larger maxim all his own: "''Laissez faire et laissez passer''" ('Let do and let pass'). His motto has also been identified as the longer "''Laissez faire et laissez passer, le monde va de lui même!''" ("Let do and let pass, the world goes on by itself!"). Although Gournay left no written tracts on his economic policy ideas, he had immense personal influence on his contemporaries, notably his fellow [[Physiocrats]], who credit both the ''laissez-faire'' slogan and the doctrine to Gournay.<ref>Gournay was credited with the phrase by [[Jacques Turgot]] ("Eloge a Gournay", ''Mercure'' 1759), the [[Victor de Riqueti, marquis de Mirabeau|Marquis de Mirabeau]] (''Philosophie rurale'' 1763 and ''Ephémérides du Citoyen'', 1767.), the [[Comte d'Albon]] (,"Éloge Historique de M. Quesnay", ''Nouvelles Ephémérides Économiques'', May, 1775, p.136-7. ) and [[Pierre Samuel du Pont de Nemours|DuPont de Nemours]] (Introduction to ''Oeuvres de Jacques Turgot'', 1808–11, Vol. I, p.257 and p.259 (Daire ed.)) among others</ref>
 
   
 
Before d'Argenson or Gournay, [[Pierre Le Pesant, sieur de Boisguilbert|P.S. de Boisguilbert]] had enunciated the phrase "on laisse faire la nature" ('let nature run its course').<ref>"Tant, encore une fois, qu'on laisse faire la nature, on ne doit rien craindre de pareil", P.S. de Boisguilbert, 1707, ''Dissertation de la nature des richesses, de l'argent et des tributs''.</ref> D'Argenson himself, during his life, was better known for the similar but less-celebrated motto "''Pas trop gouverner''" ("Govern not too much").<ref>DuPont de Nemours, ''op cit'', p.258. Oncken (''op.cit'') and Keynes (''op.cit''.) also credit the Marquis d'Argenson with the phrase "''Pour gouverner mieux, il faudrait gouverner moins''" ("To govern best, one needs to govern less"), possibly the source of the famous "That government is best which governs least" motto popular in American circles, attributed variously to [[Thomas Paine]], [[Thomas Jefferson]] and [[Henry Thoreau]].</ref> But it was Gournay's use of the 'laissez-faire' phrase (as popularized by the [[Physiocracy|Physiocrats]]) that gave it its cachet.
 
Before d'Argenson or Gournay, [[Pierre Le Pesant, sieur de Boisguilbert|P.S. de Boisguilbert]] had enunciated the phrase "on laisse faire la nature" ('let nature run its course').<ref>"Tant, encore une fois, qu'on laisse faire la nature, on ne doit rien craindre de pareil", P.S. de Boisguilbert, 1707, ''Dissertation de la nature des richesses, de l'argent et des tributs''.</ref> D'Argenson himself, during his life, was better known for the similar but less-celebrated motto "''Pas trop gouverner''" ("Govern not too much").<ref>DuPont de Nemours, ''op cit'', p.258. Oncken (''op.cit'') and Keynes (''op.cit''.) also credit the Marquis d'Argenson with the phrase "''Pour gouverner mieux, il faudrait gouverner moins''" ("To govern best, one needs to govern less"), possibly the source of the famous "That government is best which governs least" motto popular in American circles, attributed variously to [[Thomas Paine]], [[Thomas Jefferson]] and [[Henry Thoreau]].</ref> But it was Gournay's use of the 'laissez-faire' phrase (as popularized by the [[Physiocracy|Physiocrats]]) that gave it its cachet.
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