Capitalism - An economic system controlled by price moves. Free-market - A market in which individuals act according to their own self interests to the benefit of others. Free-market capitalism is an economic system controlled by price moves that reflect individuals acting in their own self interests to the benefit of others. Anyone familiar with Dr. Thomas Sowell will already be familiar with the above definitions. Dr. Sowell first established the above nomenclature, in his most widely distributed book, "Basic Economics". Although an economist, Dr. Sowell never exclusively focused another book on economics (and he's written over two dozen very important books). When asked why he never wrote a book on advanced economics he stated that, "There are no advanced economics. Economics are basic; economies are complicated." Free-market capitalism can be summed up as follows - FROM EACH ACCORDING TO THEIR WILL AND TOO EACH ACCORDING TO THEIR ABILITY.