The average value of Virginia real estate was $5,000 per acre in 2008, compared to $4,900 in 2007. In West Virginia, real estate value climbed by $200 per acre in 2008, to $2,500 per acre from $2,300 per acre.
Definition. Laissez faire is the belief that economies and businesses function best when there is no interference by the government. It comes from the French, meaning to leave alone or to allow to do. It is one of the guiding principles of capitalism and a free market economy.
Laissez-faire, a product of the Enlightenment, was conceived as the way to unleash human potential through the restoration of a natural system, a system unhindered by the restrictions of government.. In a similar vein, Adam Smith viewed the economy as a natural system and the market as an organic part of that system. Smith saw laissez-faire as a moral program, and the market its instrument to ensure men the rights of natural law. By extension, free markets become a reflection of the natural system of liberty.