economic freedom
Unregulated commerce rights
Economic freedom is the ability to make choices about one's own labor, property, and financial transactions without excessive government interference.
Economists and political theorists measure it through factors like property rights, tax burden, trade openness, and regulatory constraints.
Countries with greater economic freedom tend to have higher standards of living.
The concept is central to free-market ideology, though critics argue it can mask inequality or exploitation.
Privately owned, competitive economy
- laissez-faireNoninterference in commerce
- privatizationState sells public assets
- deregulationRemoving governmental business restrictions
- neoliberalismPro-market, anti-regulation ideology
supply-side · trickle-down · fiscal conservatism · free market · Milton Friedman · libertarianism · property rights · competition
Price-determining economic forces
- competitionStruggle for supremacy
- price signalsCost changes conveying information
- stock exchangeSecurities trading marketplace
- commoditiesTradeable raw materials
investment · liquidity · volatility · bull market · bear market · arbitrage · diversification · index fund
Independent decision-making capacity
- self-determinationControl over one's fate
- choiceAct of selecting
- agencyPower to act
- independenceFreedom from external control
sovereignty · free will · noninterference · individual rights · property rights · consent · civil liberties · self-governance
Removing governmental business restrictions
- taxationCompulsory government revenue collection
- subsidyFinancial assistance from government
- fiscal policyState spending and taxation
- monetary policyCentral bank economic controls
central bank · government intervention · welfare state · redistribution · austerity · stimulus · public spending · compliance
New business enterprise
- ventureRisky new undertaking
- self-employedWorking independently, not hired
- founderOne who begins something
- small businessModest independent commercial venture
bootstrapping · angel investor · incubator · accelerator · crowdfunding · risk-taking · innovation · scalability
Unrestricted international exchange
- tariffsTaxes on imports
- importObtain from overseas
- exportForeign-bound sale
- quotasMandated numerical limits
globalization · WTO · customs · duty · mercantilism · protectionism · trade agreement · NAFTA
Good fortune, success
- affluenceAbundance of money
- assetsOwned items of value
- investmentsAssets bought for profit
- savingsAccumulated money kept
inheritance · financial security · millionaire · billionaire · tycoon · philanthropy · fortune · luxury
free enterprise
Privately owned, competitive economy
- laissez-faireNoninterference in commerce
- privatizationState sells public assets
- deregulationRemoving governmental business restrictions
neoliberalism · supply-side · trickle-down · fiscal conservatism · free market · Milton Friedman · libertarianism · property rights · competition · profit motive
supply and demand
Price-determining economic forces
- competitionStruggle for supremacy
- price signalsCost changes conveying information
- stock exchangeSecurities trading marketplace
commodities · investment · liquidity · volatility · bull market · bear market · arbitrage · diversification · index fund · brokerage
autonomy
Independent decision-making capacity
- self-determinationControl over one's fate
- choiceAct of selecting
- agencyPower to act
independence · sovereignty · free will · noninterference · individual rights · property rights · consent · civil liberties · self-governance · personal finance
deregulation
Removing governmental business restrictions
- taxationCompulsory government revenue collection
- subsidyFinancial assistance from government
- fiscal policyState spending and taxation
monetary policy · central bank · government intervention · welfare state · redistribution · austerity · stimulus · public spending · compliance · reform
startup
New business enterprise
- ventureRisky new undertaking
- self-employedWorking independently, not hired
- founderOne who begins something
small business · bootstrapping · angel investor · incubator · accelerator · crowdfunding · risk-taking · innovation · scalability · disruptor
free trade
Unrestricted international exchange
quotas · globalization · WTO · customs · duty · mercantilism · protectionism · trade agreement · NAFTA · bilateral
prosperity
Good fortune, success
- affluenceAbundance of money
- assetsOwned items of value
- investmentsAssets bought for profit
savings · inheritance · financial security · millionaire · billionaire · tycoon · philanthropy · fortune · luxury · wealth creation
- capitalismcapitalism, free market, free enterprise, private property, profit motive
- freedomfree will, expression, speech, political liberty, belief
- rankingsrankings, first, college rankings, second, third
- economic policymonetary policy, tax policy, fiscal discipline, fiscal stimulus, fiscal restraint
- conservatismconservative, traditionalism, fiscal conservative, small government, free enterprise
- Economic Philosophyfairness, equality, efficiency, property rights
economic freedomcentral planning
Government directs all production
command economy · state control · socialism · communism · statism
economic freedomeconomic coercion
Monetary pressure for compliance
serfdom · debt bondage · indentured servitude · economic dependence · wage slavery
economic freedommonopoly
One seller, no substitutes
price controls · rationing · trade barriers · cartelization · autarky
freedom, economy, economic, economical, economics, economize, economizing, economically, economized