Is free market and capitalism are same?

Dear Sir I am from India. Currently pursuing masters in Economics after graduating in Computer Science. This is my first year of Economics studies. I am completely convinced with your points on the free market yet I am convinced with this guy[Video Link at the bottom]. I have no standpoint what is right and wrong. Will you please clarify duality. Thankful Your follower Nimit Video Link: https://www.facebook.com/PierrePoilievreMP/videos/10155129268787379/?hc_ref=ARR99w_m5RyHI9W486tg_KeriREqYi_FTTsQG5NQMLsmgAYCoJDBglJctWRfY3WrlnQ


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  • Ben Angel
    commented 2017-11-19 19:45:01 -0500
    Capitalism has three components. An employer who privately owns the means of production (a business), a workforce who are paid a wage low enough so a profit can be made and a market where the goods can be sold for the benefit of the owner.

    A free market economy is where the regulations for running a business are virtually removed. There are some neo liberals who believe that businesses should have no regulations or taxes at all.
  • Ben Angel
    commented 2017-11-19 19:45:00 -0500
    Capitalism has three components. An employer who privately owns the means of production (a business), a workforce who are paid a wage low enough so a profit can be made and a market where the goods can be sold for the benefit of the owner.

    A free market economy is where the regulations for running a business are virtually removed. There are some neo liberals who believe that businesses should have no regulations or taxes at all.
  • Nimit Dhalia
    @NimitDhalia1 tweeted link to this page. 2017-11-19 00:20:25 -0500
  • Nimit Dhalia
    published this page in Ask Prof. Wolff 2017-11-19 00:19:21 -0500

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