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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Those who nourish the hope that it will be possible to keep central government free of the corrupting tendencies of power and to staff it with a freedom-loving elite, overestimate the virtues of both the electorate and the elected, and underestimate the normative power of structural processes even over well-intended functionaries.

- Robert Nef