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.
Supporters argue that the advantages of laissez-faire are that a free market makes the most efficient use of resources, that it avoids people becoming reliant on state support, and that it encourages creativity and growth. Laissez-faire is a French term that roughly translates as leave alone..