[ lˈe͡ɪsɛzfˈe͡əɹ ɪkˈɒnəmi], [ lˈeɪsɛzfˈeəɹ ɪkˈɒnəmi], [ l_ˈeɪ_s_ɛ_z_f_ˈeə_ɹ ɪ_k_ˈɒ_n_ə_m_i]
The laissez-faire economy is a term used to describe a free-market economy in which there is little to no government intervention. The concept originated in France in the 18th century and has been embraced by some economists as a model for economic growth. However, there are several antonyms that represent different economic systems that oppose laissez-faire. One such antonym is the command economy, which has complete government control over the market. Another opposite of laissez-faire is the mixed economy, where there is a blend of free-market principles and government intervention. A third antonym is the planned economy, which is a system where the government directs all economic activity.
What are the antonyms for Laissez-faire economy?
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