Free enterprise systems, also known as capitalist systems, are economic systems where individuals or businesses are free to engage in economic activities without coercion from the government. There are several synonyms for free enterprise systems, including market economy, laissez-faire economy, free market economy, and private enterprise economy. These synonyms all refer to economic systems that value individual initiative, competition, and self-regulation. While there are differences in the nuances between these synonyms, they all share a belief in the power of the invisible hand of the market to allocate resources effectively and a skepticism of government intervention in economic affairs. Despite the differences in terminology, free enterprise systems are at the core of many successful economies around the world.