Laissez faire : Noninterference; -- an axiom of some political economists, deprecating interference of government by attempts to foster or regulate commerce, manufactures, etc., by bounty or by restriction; as, the doctrine of laissez faire; the laissez faire system government.

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Taxonomy
laissez-faire capitalism, government, Laissez faire, economy, government intervention, the Great Depression, Austrian School, regulation, Keynes, the Depression, central bank, Murray Rothbard, capitalism, laissez, libertarians, proponents, the Federal Reserve, anarchy.

Defination from the web:
... The first known English-language use of "laissez faire" was in 1774, by George Whatley, in the book Principles of Trade, which was co-authored with Benjamin Franklin. ...