free economy

It comes from a vibrant free economy where people can risk their own money to open a business.

When speculators fail in a free economy, they alone bear the losses, even as society at large often benefits in the process.

But recession is only one enemy of a free economy--inflation is another.

This definition has a special application to the areas of wage and price policy in a free economy.

In a free economy, reflecting as it does the independent judgments of millions of people, growth typically moves forward unevenly.