Free market/unregulated
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About
A market that is "free" by virtue of being unregulated is one in which there are no external organizations (especially government) charged with regulating the marketplace. It is essentially social Darwinism applied to economics.
The philosophy which advocates this is known as free-marketism or, more traditionally, laissez-faire economics.
Related
- Trickle-down economics advocates deliberately redistributing wealth to the top.
Links
Reference
- Wikipedia "...an economic environment in which transactions between private parties are free from government restrictions, tariffs, and subsidies, with only enough regulations to protect property rights."
- Conservapedia
: "...an economic doctrine that opposes governmental regulation of commerce beyond the minimum necessary for a free-enterprise system"; Adam Smith was an advocate. "Currently Somalia is the only nation where pure laissez-faire is practiced. Pure laissez-faire was experimented with in Chile during the reign of General Pinochet, but the experiment was unsuccessful."
