Capitalism: An economic system characterized by private or corporate ownership of capital goods, investments determined by private decision, and prices, production, and the distribution of goods determined mainly by competition in a free market.
Laissez-faire: A policy or attitude of letting things take their own course, without interfering. In economics, it refers to an environment in which transactions between private parties are free from state intervention.
The Wealth Of Nations: The magnum opus of Adam Smith in which he argues that rational self-interest and competition can lead to economic prosperity.