Question

Please simplify this for me. Cant understand this at all.

Laissez-faire is synonymous with what was referred to as strict capitalist free market economy during the early and mid-19th century as an ideal to achieve. It is generally understood that the necessary components for the functioning of an idealized free market include the complete absence of government regulation, subsidies, artificial price pressures and government-granted monopolies (usually classified as coercive monopoly by free market advocates) and no taxes or tariffs other than what is necessary for the government to provide protection from coercion and theft and maintaining peace, and property rights.

Answer 1

http://www.google.com/search?q=define%3A+Laissez-faire+&ie=utf-8&oe=utf-8&aq=t&client=firefox-a&rlz=1R1GGLL_en___US379

Laissez-faire generally means that something is done (or allowed to happen) without much, if any, interference. You can also apply the term to how people do or don't choose to raise their children!
http://www.google.com/search?hl=en&client=firefox-a&hs=ym1&rlz=1R1GGLL_en___US379&q=Laissez-faire+in+child+raising&btnG=Search

Answer 2

Where did you get this passage? The second and last sentence has 65 words! No wonder you can't understand it. It's hard for me to break down into a usable message.