The cornerstones of economic freedom are (1) personal choice, (2) voluntary exchange coordinated by markets, (3) freedom to enter and compete in markets, and (4) protection of persons and their property from aggression by others.
The first main principle of economic individualism is economic freedom. Economic freedom is an important element of capitalist or classical liberal societies because it allows people individual choice in their economic decision-making.
Economic freedom. The freedom to own property, to make a profit, and to make choices about what to produce, buy, and sell.
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