When economist use the term laissez faire what economic idea are they referring to?

Laissez-faire is an economic principle advocating minimal government intervention in the economy, allowing free markets to operate without regulatory constraints. This approach emphasizes that individuals and businesses should be free to pursue their own interests, leading to efficient allocation of resources and innovation. Proponents argue that competition and self-regulation will naturally lead to economic growth and prosperity. Essentially, laissez-faire supports the belief that the economy functions best when left to its own devices.