John Locke Why Individuals Matter Seventeenth-century English philosopher whose case for natural rights — life, liberty, and property — grounded the view that governments exist to protect individuals, not rule them. Thinker
Friedrich Hayek The Knowledge in Prices Twentieth-century Austrian economist who argued that prices carry dispersed knowledge no central planner can gather — the mechanism behind market coordination. Thinker
Capitalism Capitalism is a system where individuals and businesses are free to own property, make decisions, and trade voluntarily with others. Instead of a central authority controlling most economic activity, people respond to prices, incentives, and competition. Supporters argue this helps create innovation, growth, and rising living standards over time.
Free Market A free market is a system where prices, production, and trade are mostly determined by individuals and businesses making voluntary decisions rather than by government control. Companies compete for customers, and consumers decide what succeeds based on what they buy. Supporters argue this encourages innovation, efficiency, and choice.