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Free Market
(redirected from Free market economics)

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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.
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And would anyone like to see a return to the savage free market economics of the Thatcher era when countless struggling firms were required to be competitive over night and quickly went to the wall?
Scrappage scheme is a vital boost to economy; DAILY POST YOUR VOICE ... by Daily Post (Liverpool, England)
The only place Thatcher was welcome was at the Anglican Cathedral, then run by free market economics guru Dean Derrick Walters, who later befriended Michael Portillo.
Tories are still extinct in city by Liverpool Echo (Liverpool, England)
We never depended solely on free market economics for universal delivery of affordable electricity and phone service, and there's no reason to expect that we can do so for high speed Internet access," said Ed Black, president of the Computer & Communications Industry Association.
US drawing up national broadband plan by AFP / AFP American Edition
 
 
 
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