market economy

noun

: an economy in which most goods and services are produced and distributed through free markets

Examples of market economy in a Sentence

Recent Examples on the Web That book, another of Oyeyemi’s meta-textual inventions, reflects the contradictions of a country teetering between Communism and a market economy. Jennifer Wilson, The New Yorker, 3 Mar. 2024 His father, a businessman, stepped in to rescue the team during the turbulent transition from communism to a market economy in the 1990s, when its main sponsor, the local steelworks, faced bankruptcy. Karel Janicek, USA TODAY, 15 Feb. 2024 For decades China welcomed U.S. companies with open arms and generous incentives, part of the nation’s efforts to convert to a market economy. Geoff Colvin, Fortune, 2 Feb. 2024 The United States has spent decades, and hundreds of billions of dollars, building and protecting an international order that could sustain and protect democracy and market economies, thus ensuring security and prosperity for Americans. Dmytro Kuleba, Foreign Affairs, 14 Dec. 2023 Meanwhile, Western companies and governments had the budgets to keep Russian experts employed as the country struggled to adapt to a market economy. John Timmer, Ars Technica, 2 Aug. 2023 Barry Naughton, an economist at the University of California at San Diego who has long studied China’s transition to a market economy, said that the document signaled that the finance sector would be subject to ever-tighter oversight and forced to serve government policies more actively. Joy Dong, New York Times, 5 Dec. 2023 Through the alignment of self-interest and social good, the pursuit of innovation, ethical considerations and the recognition of wealth as a means to an end, impact investing exemplifies a vision of a prosperous and socially responsible market economy. Praveen Vetrivel, Forbes, 29 Nov. 2023 Sergei Lavrov, writing for South Africa’s Ubuntu Magazine, said the members of BRICS — a group of emerging market economies made up of Brazil, Russia, India, China and South Africa — have an important role to play in this new world order. Mikhail Klimentov, Washington Post, 21 Aug. 2023

These examples are programmatically compiled from various online sources to illustrate current usage of the word 'market economy.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.

Word History

First Known Use

1918, in the meaning defined above

Time Traveler
The first known use of market economy was in 1918

Dictionary Entries Near market economy

Cite this Entry

“Market economy.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/market%20economy. Accessed 18 Apr. 2024.

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