Laissez-faire

Laissez-faire leadership, sometimes called delegative leadership, is an approach in which leaders give minimal oversight and allow team members autonomy in making decisions and managing tasks. It is basically the idea that things run best when Government, bosses, or other authorities don't interfere too much.

In economics, it suggests that the Government does not regulate business. No price controls, minimal taxes, no subsidies. Businesses and consumers make their own choices and the "invisible hand" of the market sorts it out. In general it is about letting people make their own decisions without stepping in.

It comes from the French phrase 'laissez faire, laissez passer' (let do, let pass). The Physiocrats proclaimed laissez-faire in 18th-century France, placing it at the very core of their economic principles and famous economists, beginning with Adam Smith, developed the idea.

The positives of a 'laissez faire' approach are more innovation, efficiency, individual freedom. The negatives are that it can lead to monopolies, inequality, and no safety net when things go wrong. 

So the middle path while choosing the 'laissez faire' approach in economics, leadership or even parenting, should be less of 'no rules at all' and more 'minimal rules, maximum freedom to operate.'

The doctrine laissez faire is about 'let be'

But ensure the vulnerable are not at sea.

L

~ Pravin K Sabnis

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