An economy where individuals own property and engage in the exchange of goods and services. Exchange is voluntary and takes place between two parties. A pure, free market economy that excludes all economic intervention by the government, both in the form of regulation of and subsidies to business, has never existed.
Steve Horwitz - Regulation and Intervention
Paul Cwik - Problems and Prices
SEPTEMBER 12, 2012 by CHUCK GRIMMETT
OCTOBER 04, 2011 by TSVETELIN M. TSONEVSKI
APRIL 01, 2011 by NICHOLAS SNOW
JUNE 24, 2010
Related Freeman Articles
OCTOBER 05, 2012 by GEORGE C. LEEF, AYN RAND
The overlooked source of liberation.
MAY 03, 2012 by STEVEN HORWITZ
Although it rarely gets the credit, capitalism liberated women from centuries of second-class citizenship.
Guess what diversifies humanity.
FEBRUARY 05, 2010 by STEVEN HORWITZ
If the supporters of diversity really mean it, they should be much more supportive of markets than they generally are.