laissez faire vs philosophy

laissez faire and philosophy both are nouns.

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

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

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

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

laissez faire (noun)	philosophy (noun)
the doctrine that government should not interfere in commercial affairs	the rational investigation of questions about existence and knowledge and ethics
	a belief (or system of beliefs) accepted as authoritative by some group or school
	any personal belief about how to live or how to deal with a situation