The term "Laissez-faire" literally translates to which of the following phrases?

The term "Laissez-faire" is derived from French, where it translates to "leave it alone" or "let it be." This phrase encapsulates an economic philosophy that advocates minimal government intervention in the workings of the economy. It supports the idea that the free market, driven by individuals pursuing their own self-interest, naturally leads to economic prosperity and efficiency.

In historical context, this philosophy became particularly influential during the Industrial Revolution and is closely associated with classical liberalism and the works of economists like Adam Smith. By championing the notion that government should not interfere in economic activities, proponents of laissez-faire argue that this hands-off approach allows for the most effective allocation of resources and fosters innovation and competition.

This concept conflicts directly with more interventionist economic strategies, which argue for regulations, protections, and various forms of government participation in the economy. The other options do not capture the essence of the laissez-faire philosophy, either suggesting a collaborative effort, direct intervention, or initiating an action that doesn't align with the core principle of non-interference in economic matters.