BEGINNER

Free Market

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

Related Publications

ARCHIVE

Vision

AUGUST 03, 2009 by LEONARD E. READ

Related Freeman Articles

THE CALLING

Free Markets Are a Woman's Best Friend

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.

THE CALLING

Diversity and the Free Market

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.

IT JUST AIN'T SO

The Free Market Is Failing?

This Reaction to Economic Bad News Is as Old as Capitalism Itself

DECEMBER 01, 2008 by STEVEN HORWITZ

Related Multimedia

MULTIMEDIA - VIDEO

Entrepreneurship and Market Process

FEBRUARY 14, 2011

MULTIMEDIA - AUDIO

Entrepreneurship and Market Processes II

JULY 18, 2010

MULTIMEDIA - AUDIO

Individual Liberty, Free Markets and Peace

JUNE 24, 2010

MULTIMEDIA - VIDEO

Morality and the Market

MARCH 18, 2010

MULTIMEDIA - VIDEO

Capitalism vs. the Free Market

MARCH 03, 2010

ONLINE EVENTS

FEE offers live online events for people new to the economic, ethical, and legal principles of a free society.

CURRENT ISSUE

December 2014

Unfortunately, educating people about phenomena that are counterintuitive, not-so-easy to remember, and suggest our individual lack of human control (for starters) can seem like an uphill battle in the war of ideas. So we sally forth into a kind of wilderness, an economic fairyland. We are myth busters in a world where people crave myths more than reality. Why do they so readily embrace untruth? Primarily because the immediate costs of doing so are so low and the psychic benefits are so high.
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