Free Market

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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.
References in periodicals archive ?
Some of your free-market colleagues in neighboring countries stepped down under political pressure.
and tells his readers that these free-market maniacs are intellectual colossi whose nefarious notions control those who control the levers of power.
Some of Putin's advisers are very free-market oriented.
The complex is 100 percent leased at free-market rent, which means the building is not subject to rent-control and rent stabilization laws.
Asking the farmer (like the industrial worker) to produce more for less has always been the objective of free-market politicians.
Then it all began to fall apart: inflation, rising unemployment, disruptive labor disputes -- all preparing the ground for the radical free-market ideology of Margaret Thatcher and her guru, Keith Joseph.
25 /PRNewswire-USNewswire/ -- Sam Adams Alliance (SAM), a non-profit organization seeking to increase public awareness of free-market principles and policies, today announced the launch of its new website, www.
POPE JOHN PAUL II WORRIED OVER SUCH "IDOLATRY OF THE market" in his 1991 encyclical Centesimus Annus, but what also concerns the pope is the limiting effect free-market idolatry compels on reimagining political and economic structures.
In other Latin American countries, too, governments ruined economies before free-market reforms were enacted.
The authors do, and that's what they call "natural capitalism," though the adjective isn't necessary--it's exactly the same kind of capitalism that free-market economists have been pushing for about 200 years.
He is not describing the breakdown of oppressive regimes, simply the formation of oppressive corporate regimes, neatly packaged as free-market democracies.
Socialism didn't die with the soviet union; it simply transformed itself into a virulent form of political correctness, which has begun its attack on the immune system of free-market capitalism.