Free-market

A free-market is a market free from the intiation of physical force, where all exchanges are voluntary.

“Intellectual freedom cannot exist without political freedom; political freedom cannot exist without economic freedom; a free mind and a free market are corollaries.” — Ayn Rand

A free-market is a market, where individuals (or groups of individuals) compete against each other to trade goods and services with other individuals (groups), under a legal system based on the protection of individual rights (capitalism), free from the coercive effects of the initiation of physical force (and its corollary, fraud).

Observe that the competition among buyers and the competition among sellers leads to cooperation between buyers and sellers, as the buyer and seller exchange values for mutual gain and mutual benefit (else no trade would take place).

[1] Ayn Rand “For the New Intellectual” 25

Capitalism FAQ

Intellectually “chew” the ideas brought up in the tour by exploring the Capitalism FAQ (Frequently Asked Questions).

 

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