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free enterprise system

   Also found in: Wikipedia, Hutchinson 0.01 sec.
free enterprise system: see capitalism capitalism, economic system based on private ownership of the means of production, in which personal profit can be acquired through investment of capital and employment of labor.
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The award is given to an individual who promotes the free enterprise system and who supports the ideas of smaller government, lower taxes and less regulation.
NRCC Chairman Tom Reynolds said the award is given to a select group of business and community leaders from each state who have championed the free enterprise system and supported the ideals of smaller government, lower taxes and less regulation.
Yet, our free enterprise system works well when there is balance of power between the board and management.
 
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