laissez faire vs ism

laissez faire and ism both are nouns.

Word	Noun	Adjective	Verb	Adverb
laissez faire	Yes	No	No	No
ism	Yes	No	No	No

As nouns, ism is a hypernym of laissez faire; that is, ism is a word with a broader meaning than laissez faire:

laissez faire: the doctrine that government should not interfere in commercial affairs
ism: a belief (or system of beliefs) accepted as authoritative by some group or school

Other hypernyms of laissez faire include doctrine, philosophical system, philosophy, school of thought.

laissez faire (noun)	ism (noun)
the doctrine that government should not interfere in commercial affairs	a belief (or system of beliefs) accepted as authoritative by some group or school