Monday, March 24, 2008

Laissez-faire -- not so good when it comes to subprime mortgages

From the Financial Times: "Dubai has long positioned itself as a regional business hub, with a laisser faire attitude to business regulations."

I thought "laisser faire" was a mistake, until I looked in the dictionary and saw that "laisser faire" is a "chiefly British variation of laissez-faire."

Laissez-faire noun [laissez-faire is the imperative of laisser faire to let (people) do (as they choose)]
a doctrine opposing government interference in economic affairs beyond the minimum necessary for the maintenance of peace and property rights [and unlimited subprime mortgages] -- adj. laissez-faire

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