To the editor:

Laissez-faire is a term that describes a system that opposes regulation or interference by government in economic affairs beyond the minimum necessary to allow the free enterprise system to operate according to its own economic laws and is based on the natural economic order tends, when undisturbed by artificial stimulus or regulation, to secure the maximum well-being for the community as a whole. The term laissez-faire, although antiquated and now referred to as the free market system, is a concept of our own capitalistic economic system which has existed in limited forms in all economies around the world.

Adam Smith, a famous 18th century economist whose ideas about economics led to the growth of modern capitalism, was opposed to mercantilism and government paternalism. He found a place for government activity in public works, such as the building of canals and docks to facilitate trade.

If Adam Smith were living here in Lawrence today, he may say that the government pursuit of taxation for the purchasing and development of industrial land would only burden our already burdened businesses, economy and residents alike. Any benefit the community will gain would be offset by what the community will have to lose. A better strategy may be to keep or zone the land for industrial purposes and offer tax incentives for companies to develop there (minimum necessary). Give the community a safe place to live and work, give us good sewer systems, bridges and roads, but don’t touch our laissez-faire.

Jeff Bivens,

Lawrence