[ lˈe͡ɪsɛz fˈe͡əɹ ˌiːkənˈɒmɪk], [ lˈeɪsɛz fˈeəɹ ˌiːkənˈɒmɪk], [ l_ˈeɪ_s_ɛ_z f_ˈeə_ɹ ˌiː_k_ə_n_ˈɒ_m_ɪ_k]
Laissez-faire economics is an economic system where the government does not interfere with the market's natural course, allowing businesses to operate freely. On the other hand, antonyms for laissez-faire economics are interventionist or managed economic systems. These types of economic systems involve government intervention in the market to regulate the economy's functioning, such as setting prices, taxes, and controlling the production and distribution of goods and services. Countries that adopt an interventionist economic system aim to achieve stability and ensure social welfare, whereas laissez-faire economics prioritizes individual freedom and businesses' autonomy. Ultimately, understanding the differences between these economic systems is essential in determining a country's economic policies and growth.
What are the antonyms for Laissez faire economic?
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