Free Market

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Related to Free Market Economies: Mixed economies

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 ?
A particularly interesting example of this is the book's discussion of the role religion could play in the emergence of former command economies into free market economies.
Associations Between Preferences for Western Democracy and Free Market Economies
Until this is accomplished, we should not attempt to advise the Eastern European countries struggling to establish free market economies.
With the widening free market economies in Europe combined with ongoing deregulation, fleets are growing larger and their length of haul is dramatically increasing.
The opening of world markets, fueled by the trends toward free market economies and the deregulation and privatization of the broadcasting industry, has created dramatic opportunities for companies positioned to provide pay television and pay-per-view programming services, as well as the systems needed to deliver them to foreign consumers.