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.
In American history, the term laissez-faire capitalism has been used to refer to... In its purest form, laissez-faire capitalism is the same thing as a pure market economy. This is an economy in which the government does not take any part in managing the economy. In such an economy, there would be no such things as, for example, minimum wage laws or workplace safety laws.