Laissez-Faire is a French word which means “Leave us alone”. It was proposed in the 18th century by the French Physiocrats. The government interface is limited in this type of economic activity and leaves the decision on private sectors.
Nineteenth-century was considered as the age of Laissez-Faire fro the USA and Europe due to excess capitalism including monopoly and trust.
In this type of economic system, unequal distribution of wrath is evident. As few people would have the most of the income while other people have the scarcity of wealth.
To avoid the risk of unemployment presented during the 19th century the government interfere in the of most advance Laissez-Faire markets.
The invisible-hand theory(1776) by Adam Smith describes the paradox of Laissez-faire.