Free Market


Also found in: Dictionary, Thesaurus, Legal, Acronyms, Encyclopedia, Wikipedia.

Free Market

A system of economics that minimizes government intervention and maximizes the role of the market. According to the theory of the free market, rational economic actors acting in their own self interest deal with information and price goods and services the most efficiently. Government regulations, trade barriers, and labor laws are generally thought to distort the market. Proponents of the free market argue that it provides the most opportunities for both consumers and producers by creating more jobs and allowing competition to decide what businesses are successful. Critics maintain that an unfettered free market concentrates wealth in the hands of a few, which is unsustainable in the long term. In practice, no country or jurisdiction has a completely free market. See also: Deregulation, Classical economics, Keynesian economics, Marxism, Monetarism, Chicago School, Austrian School.
References in periodicals archive ?
It's telling that there hasn't been a big backlash against liberal reformers in Estonia, the country that has gone furthest in the transition from communism to free markets.
Again, that old invisible hand of the free market was supposed to take care of things.
Faithful to free markets and democracy despite the unhappy Weimar Republic experience, Ropke fearlessly denounced the new Nazi government in February 1933.
But California's fiasco is hardly a cautionary tale for real deregulation and the efficacy of free markets.
Because the ideology of information technology envisions the use of information technology conjoined with the adoption of free market values, it does not embody a public policy role for the nation state in a global economy.
They may not even provide us with information on whether Americans prefer increased regulation in lieu of the free market perspective.
Should it be any shock that Greenspan now blames the free market for today's meltdown--rather than the Fed's policies, which fueled an inflationary housing boom, which rewarded reckless lenders and borrowers from Wall Street to Main Street?
At the moment, Macedonia meets only 40 percent of its power demand from the free market.
Michael Dennis, President of Free Market, will unite Hub New Mexico as a Client Executive, Vice President for the region.
155 TL at the free market by the end of 2009, has been traded between 1.
Now the omniscient free market in its divine-ish wisdom has decided to bumrush U.
But when John Hood, president of the John Locke Foundation, a free market think tank in North Carolina, set out to defend the social value of product promotion, he found himself up against an unexpected group of critics: advertisers themselves.