Rugged individualism was the phrase used often by Herbert Hoover during his time as president. It refers to the idea that each individual should be able to help themselves out, and that the government does not need to involve itself in people’s economic lives nor in national economics in general.

Rugged individualism is the belief that all individuals, or nearly all individuals, can succeed on their own and that government help for people should be minimal.

Source: https://en.wikipedia.org/wiki/Rugged_individualism