Tag: free market

  • Free Enterprise

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    Free Enterprise, as an economic principle, features minimum intervention of government and greater participation of private individuals in business management. This system, idealised by early political associations such as the People’s Union, endured in the tenets of the educated elites that Ademola II, Alake of Abeokuta, had recommended at his coronation in 1920 that “all…

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  • Capitalism

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    Capitalism, according to Investopedia, is a system of economics based on the private ownership of capital and production inputs, and on the production of goods and services for profit. This Adam Smith’s doctrine, Aynrand adds, is a social system based on the recognition of individual rights, including property rights. Nigeria was incorporated into the free…

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