market economy

Noun

Meaning

an economy that relies chiefly on market forces to allocate goods and resources and to determine prices

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Examples

What we want is to establish the rules of a market economy - not to plan its outcome. Václav Klaus

We must have the time to create strict rules so that property is not sold by Communist managers for a low price. They often get payments under the table to sell to the first bidder. This does not build public support for a market economy. Václav Klaus

I think a major cause of present Asian economic difficulties that mainly come from, you know, lack of market economy. Kim Dae-jung

So I think one can say on empirical grounds - not because of some philosophical principle - that you can't have democracy unless you have a market economy. Peter L. Berger

I think Russians today have a distorted picture of capitalism, liberal democracy and market economy. Garry Kasparov

No one "voted in" the market economy and the industrial revolution, but today issues of direction of the economy, costs, redress, priorities, and goals all have become matters of conscious and debated social policy. Daniel Bell

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