Laissez-"faire" economics

Remember that term??? It came to mind this morning as I was doing the carpool route and I was thinking about a conversation had between the two chatty gradeschoolers in the back seat. Were they talking about the economy, huh? Not a day goes by where the media does not discuss our economy...bailouts, regulate, deregulate...you've heard them all lately. So where am I going with this? The hubs took Allie to the fair the other night for a little lesson in economics, but I did not hear about this part until this morning's ride to school. Here was the conversation.

Allie: "Hey friend, my daddy took me to the fair this weekend!"
Friend: "My Nanny took me too. And I was not tall enough to ride all the rides,
I will have to go back every year until I am tall enough!"
Allie: "My daddy told me to stay away from the rip-offs"
Friend: "The rip-offs, my nanny didn't say anything about the rip-offs, was that a scary ride or something?"
Allie: NOPE..it was the games where you waiste all your money...the rip off games!"

And so a very obvious economic lesson was learned...stay away from the rip-offs! So I couldn't exactly remember what the term "laissez-faire economics" meant, but of course my "pun driven" brain could not escape it. It is an economic philosophy asserting that capitalism works best when left to minimal intervention by the state. So here's my 2 cents for the day...I AGREE!!!!