free economy
Laissez-faire commerce
A free economy is an economic system where markets operate with minimal government intervention—prices set by supply and demand, businesses competing without heavy regulation, and individuals making their own economic choices.
The term often appears in political rhetoric advocating less taxation and fewer restrictions: Supporters argue a free economy drives innovation.
Also called a free market economy.
- tax cutsDecreased government assessments
- libertarianismMinimal-government political philosophy
- classical liberalismDoctrine of minimal governance
- capitalismPrivate profit-based economy
- income inequalityDisparity in earnings distribution
boom and bust · externalities · market failures · competition · level playing field · social safety nets · privatization · laissez-faire · monetary policy · entrepreneurship · supply and demand · neoliberalism · deregulation · red tape · small government · monopolies · private property · individualism
free economyplanned economy
Centralized resource allocation system
command economy · state-controlled economy · autarky · socialist economy · controlled economy
free economysocialism
Communal economic control
communism · Marxist economics · collectivism · statism · Stalinism
free, economy, freedom, freely, freed, freeing, freer, freest, freeman