LAISSEZ FAIRE • FREE TRANSLATOR.ORG • Definition of Laissez faire

... recognized that corporations and combinations had become indispensable in the business world, that it was folly to try to prohibit them, but that it was also folly to leave them without thoroughgoing control. These men realized that the doctrines of the old laissez faire economists, of the believers in unlimited competition, unlimited individualism, were in the actual state of affairs false and mischievous. They realized that the Government must now interfere to protect labor, to subordinate ...

— Theodore Roosevelt - An Autobiography by Theodore Roosevelt • Theodore Roosevelt