An economic system free from gov't influence, regulation, taxes, and price controls that adheres to the rule of law to protect private property and individual rights?

Please tell me where I may have butchered the definition in your eyes.

Definition of LAISSEZ-FAIRE

1: a doctrine opposing governmental interference in economic affairs beyond the minimum necessary* for the maintenance of peace and property rights

2: a philosophy or practice characterized by a usually deliberate abstention from direction or interference especially with individual freedom of choice and action

*emphasis mine

Are you saying we were operating within a laissez faire market structure prior to the latest collapse?

Please feel free to explain your definition.