0 an economic system with only a small amount of government control, in which prices and earnings are decided by the level of demand for, and production of goods and services:
1 an economic system with only a small amount of government control, in which prices and earnings are decided by the level of demand for, and production of, goods and services:
a free-market economy
2 an economic system based on supply and demand, in which companies manage their own business, prices, profits, etc. without being controlled by government:
Nor did white prohibitionists see this view as incompatible with free market ideology.
In this instance, perhaps, the liberality of free debate has spilled over into the intellectual licence of the free market.
Despite the recent ascendancy of free market economics, however, the case for state intervention has strengthened not weakened.
The late 1970s and early 1980s saw the ascendency of free market economics.
If its policies are unorthodox (not free market) it will not be supported in times of trouble.
Their model, however, does not capture the profit-seeking behavior of firms operating under free market conditions.
But they are too willing to conclude, despite contradictory evidence, that free market environmentalism is always the right approach, as shown by their pollution chapter.
It is only by applying the obsolete code of scientific voluntarism to a free market situation that the scientific community persuades itself otherwise.
