free enterprise

American  

[free en-ter-prahyz] / ˈfri ˈɛn tərˌpraɪz /

noun

1. an economic and political doctrine holding that a capitalist economy can regulate itself in a freely competitive market through the relationship of supply and demand with a minimum of governmental intervention and regulation.

2. the practice of free enterprise in an economy, or the right to practice it.

---

free enterprise British  

noun

1. an economic system in which commercial organizations compete for profit with little state control

---

free enterprise Cultural  

1. The freedom of private businesses to operate competitively for profit with minimal governmental regulation.

---

free enterprise Idioms  

1. Also, private enterprise. An undertaking on one's own behalf, especially a shady or illegal one. For example, The city treasurer didn't bother with competitive bids; the spirit of free enterprise just led him to his brother-in-law, or The sergeant indulged in a little private enterprise, selling cigarettes on the black market. This sarcastic application of a term that has meant, since about 1885, the freedom of private businesses to operate competitively for profit with a minimum of government control, dates from the mid-1900s.

---

Other Word Forms

• free-enterprising adjective

Etymology

Origin of free enterprise

First recorded in 1885–90

Compare meaning

How does free-enterprise compare to similar and commonly confused words? Explore the most common comparisons:

• free enterprise vs. capitalism

Example Sentences

“Look, America is founded on free enterprise and capitalism,” Essayli said.

From Los Angeles Times • Apr. 10, 2026

The document’s nods to U.S. political freedom, free enterprise and civil society as sources of national power are welcome.

From The Wall Street Journal • Dec. 8, 2025

Mr. Muratov, 61, sits in an office featuring a photograph of Mikhail S. Gorbachev, the leader now reviled by many Russians, who rejected Communism in favor of free speech, free enterprise and open borders.

From New York Times • Aug. 6, 2023

For many immigrants, a 7-Eleven store embodied the classic idea of free enterprise, where “it was literally up to you how much money you made,” Shawn Bhamipuri says.

From Seattle Times • Jun. 25, 2023

Because it was Saturday, Levy Pants had ceased its assaults upon the concept of free enterprise for the weekend.

From "A Confederacy of Dunces" by John Kennedy Toole

Related Words

• liberalism