A free market is a market where the price of a good or service is, in theory, determined by supply and demand, rather than by governmental regulation. A free market contrasts with a controlled market or regulated market, where price, supply or demand are subject to regulation or direct control by government. An economy composed entirely of free markets is referred to as a free-market economy.
Although in contemporary usage free markets are commonly associated with capitalism, free markets have been advocated by socialists and have been included in various different proposals for market socialism.
Read more about Free Market: Overview, Studies, Misconceptions, Criticisms
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... States system “socialism for the rich and free enterprise for the poor”, and Martin Luther King, Jr ... Since at least 1969, Gore Vidal used the expression “free enterprise for the poor and socialism for the rich” to describe the U.S ... system which he characterized as “a kind of socialism for the rich and free enterprise for the poor that leaves the most vulnerable out in the cold” ...
... See also Social Darwinism The free market is believed to self-regulate in the most efficient and just way ... Adam Smith described this behavior applied to competitive markets with the metaphor of an invisible hand urging society towards prosperity ...
... Turgot followed members of an early version of free market economics emerging in France at the time, inspired by Confucian teachings, known as Physiocracy ... Vincent de Gournay was the free market Intendant for Commerce and he and Turgot spent extensive time together ... He had worked to implement free market reforms on a local scale ...
... An essential element of a healthy free market, is that both success and failure must be permitted to happen when they are earned ... and allow the natural regulations and incentives of the free market to pick the winners and losers in our economy, not the whims of bureaucrats and ... public...In saving the remnants of failed companies from free-market failures, Washington may be sacrificing the public’s confidence that the government can ensure ...
... The free market lists securities that meet all general conditions for listing ... Securities are listed on the free market segment if required by the issuer or by the law ... privatization process and publicly offered shares are listed on the free market after registration with the Central Registry of Securities ...
Famous quotes containing the words market and/or free:
“Today the tyrant rules not by club or fist, but, disguised as a market researcher, he shepherds his flocks in the ways of utility and comfort.”
—Marshall McLuhan (1911–1980)
“Learned institutions ought to be favorite objects with every free people. They throw light over the public mind which is the best security against crafty and dangerous encroachments on the public liberty.”
—James Madison (1751–1836)