By George Smith – Re-Blogged From http://www.Silver-Phoenix500.com
If someone asked you to define “free market,” could you? Could you do it on the spot without recourse to dictionaries or other crutches?
There’s an old tale about the origin of the term “laissez-faire” that gets to my point. Here’s the write-up in Wikipedia:
The term laissez faire likely originated in a meeting that took place around 1681 between powerful French Comptroller-General of Finances Jean-Baptiste Colbert and a group of French businessmen headed by M. Le Gendre. When the eager mercantilist minister asked how the French state could be of service to the merchants and help promote their commerce, Le Gendre replied simply “Laissez-nous faire” (“Leave it to us” or “Let us do [it],” the French verb not having to take an object).