Definitions
American Heritage® Dictionary of the English Language, Fourth Edition
- n. The freedom of private businesses to operate competitively for profit with minimal government regulation.
Wiktionary
- n. An economic system of business governed by the laws of supply and demand with minimal goverment interference, regulation, or subsidy
GNU Webster's 1913
- n. an economic system having predominantly private ownership of the means of production, and relying chiefly on market forces to allocate goods and resources and to determine prices, and having a minimum of governmental interference in economic decisions; also, the political doctrine advocating such a system as the economic system of a country.
- n. The conduct of business according to the principles of the free enterprise doctrine; the conduct of economic activity without governmental interference.
WordNet 3.0
- n. an economy that relies chiefly on market forces to allocate goods and resources and to determine prices
Examples
“The businessmen believe that they are defending free enterprise when they declaim that business is not concerned merely with profit but also with promoting desirable social ends; that business has a social conscience and takes seriously its responsibilities for providing employment, eliminating discrimination, avoiding pollution, and whatever else may be the catchwords of the contemporary crop of reformers.”
“We wrote out what was essentially an innocuous declaration of principles ending with a phrase in which HICCASP’s executive board reaffirmed its “belief in free enterprise and the Democratic system and repudiates Communism as desirable for the United States.””
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