What is a Laissez faire ideology?

Laissez-faire is an economic philosophy advocating minimal government intervention in the market, allowing supply and demand to dictate prices and production. Rooted in classical liberalism, it promotes free markets as the most efficient means of fostering economic growth and innovation. Proponents believe that individual self-interest ultimately benefits society, while excessive regulation can hinder progress and prosperity. This ideology is often associated with the writings of economists like Adam Smith and the principles of capitalism.