Final answer:
Laissez-faire economics is a philosophy that opposes government intervention in economic markets, emphasizing that unregulated market forces should guide the economy for optimal efficiency and natural order.
Step-by-step explanation:
The Enlightenment economic philosophy of laissez-faire is best described as an approach that argues against government intervention in the economy. Rooted in the idea that market forces alone should drive economic activity, proponents of laissez-faire economics believe that any government interference could disrupt the natural order and efficiency of markets.
Adam Smith, an Enlightenment thinker, encapsulated this concept in his notion of the 'invisible hand,' suggesting that individuals seeking their own gain in a free market would inherently contribute to the overall economic prosperity, as if guided by unseen forces.
This philosophy influenced a period of time in the United States during industrialization when businesses operated with minimal government oversight, culminating in the need for antitrust laws and economic regulation in the early 20th century to correct imbalances caused by this hands-off approach.