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12 July, 21:02

Why is capitalism called a free - market economy?

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  1. 12 July, 21:31
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    In capitalism the market decides (is free to decide, hence the usage of the word "free") over what will be produced and how much, and it is not commanded by any entity, such as the government in case of command economy (think: socialism).

    So in capitalism, the market is free to function without intervention, and because of this, it is called a "free-market" economy.
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