How the Concept of Laissez Faire has Evolved
Laissez Faire is a term that finds its etymological roots in the French language, in which it means ‘allowed to do’. Also referred to as ‘let it be’ economics, Laissez Faire refers to a sect of political thought that does not favor political interference in private sector free markets. It was claimed to have first been first coined by Marquis D’Argenson, who was to later become Louis XV’s foreign minister during the Austrian War, in his work titled Memoires, published in 1736.
Various political groups throughout American history have made it their clarion call, right from Thomas Jefferson to recent political leaders such as Ron Paul.
Laissez-Faire Leadership: An Oxymoron?
Also known as delegative leadership, laissez-faire leadership is a ‘hands off’ form of leadership, in which the leader believes in freedom of choice for his team. The leader provides minimal direction to the team and delegates most responsibilities to
Rakesh Wadhwa. Ever since, I was a school boy, I knew India was on the wrong path. Socialism was just not what we needed to get ahead. Government controlled our travel; government controlled our ability to buy and sell; and government controlled our freedom to move our money. My life has focused on the inherent rights people have. When I was in college, I never understood, what the governments meant by their "socialistic attitude". If people are free to buy, sell and move their capital themselves without any restrictions by state, then the welfare of people is inevitable & hence the countries they live in will become wealthy. The government has no right whatsoever, to point a finger at me or my business. I am not a revolutionary. I just want to light up my cigarette and not get nagged about it. I believe in non-interfering attitude to attain more. 
The Bastiat Award is a journalism award, given annually by the International Policy Network, London. Bastiat Prize entries are judged on intellectual content, the persuasiveness of the language used and the type of publication in which they appear. Rakesh Wadhwa won the 3rd prize (a cash award of $1,000 and a candlestick), in 2006.
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