Free Market

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Related to free marketeers: Unregulated market

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 ?
Meanwhile, some free marketeers have proposed an economicist ethics instead of an ethics of economics.
Reviled by free marketeers and civil libertarians alike, the National Identity Register would be top of the Tory hit list.
We are all, by nature, free marketeers and are uncomfortable and suspicious of government intervention, but the car industry is a special case.
While even many of the world's most ardent free marketeers acknowledged the need for the recent coordinated bailout of European banks, Mr.
Reagan, the myth goes, kept together the three "legs" of the GOP "stool": social conservatives, free marketeers, and national security hawks.
The PDs were a niche party - free marketeers and liberal on social issues and at their best a restraint on Fianna Fail's excesses.
Barry Lynn makes essentially the same case as the free marketeers in connection with Wal-Mart's exercise of monopsony power.
Of course, it shouldn't go unnoticed that the Bushite reactionaries are selective free marketeers.
On one extreme, free marketeers have argued that natural forces, perhaps with the help of trade agreements, are the best way to ameliorate labor standards; while on the other extreme, anti-globalists have seen a corporation-free, proactive, multinational effort as the only way to achieve the goal.
Only the most avid free marketeers argue against the proposition that everyone is entitled to some basic quantity of water regardless of ability to pay.
Wrong, say the free marketeers of the Wall Street Journal: "The explosion of everything from 24/7 cable news to talk radio to thousands of Matt Drudge wannabes is better for democracy and free speech than politically influenced FCC regulation.
A devotee of Ayn Rand, the archangel of free marketeers, Greenspan has championed unfettered markets.