Laissez-faire is a specific form of capitalism under which individuals and businesses compete freely in the marketplace with minimal or no government intervention in the economy. This economic philosophy advocates for a separation of the state from economic affairs, believing that the natural forces of supply and demand, driven by self-interest and competition, will lead to the most efficient allocation of resources and the greatest overall prosperity. In a pure laissez-faire system, the role of government is typically limited to enforcing contracts, protecting private property rights, and maintaining peace and order, without imposing regulations, tariffs, subsidies, or other forms of economic control. The idea is that the "invisible hand" of the market will guide economic activity more effectively than state intervention. While no modern economy operates under a completely laissez-faire system, it remains an influential theoretical model in economic and political thought.