Definitions

Capitalism

An economic and political system whereby the means of trade and commerce is controlled by private individuals and companies conducting trade and commerce on a voluntary basis with the goal of bringing profits to those involved. 

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Free Market

A system where government influence upon the prices of goods and services are nonexistent. Prices and values of these items are determined by the forces of supply and demand. Competition is key to the pricing of goods and the development of more efficient production methods. 

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The free market is a truly awe-inspiring complex of relationships in which the rational self-interest of individuals unites all industries, all markets, all occupations, all production, and all consumption into a harmonious, progressing system serving the well-being of all who participate in it.

- George Reisman