1. The doctrine that the government should not be involved with nor controlling of businesses. The new president has vowed to take a position of laissez-faire to undo the overregulation of businesses practiced by the previous administration.

2. A stance or desire that one will not control or be involved with the actions of other people. It seems to be in vogue recently for parents to be laissez-faire with their children, allowing them total freedom without structure or discipline.