from The American Heritage® Dictionary of the English Language, 4th Edition
- n. An economy that operates by voluntary exchange in a free market and is not planned or controlled by a central authority; a capitalistic economy.
from Wiktionary, Creative Commons Attribution/Share-Alike License
- n. An economy in which goods and services are exchanged in a free market, as opposed to a state-controlled or socialist economy; a capitalistic economy.
from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.
- n. an economy that relies chiefly on market forces to allocate goods and resources and to determine prices
Sorry, no etymologies found.
Just as the factors of production themselves emerged from a precapitalist social setting during the great economic revolution we witnessed in our opening chapters, so in our times a new economic revolution is bringing the market economy into regions that were formerly only passive, not active forces in the world economy.
Australia continues to support Estonia's development, especially its transition to a market economy through multilateral organisations such as the European Bank for Reconstruction (EBRD) and bilaterally through the Australian Program for Training in Eurasia (APTEA).