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[[Image:Adam Smith.jpg|right|Adam Smith]]

[[Image:Adam Smith.jpg|thumbnail|right|[[Adam Smith]] ]]

'''Free Enterprise''' is commerce with [[business]] transactions carried on between private individuals or corporations without [[state]] interference or mandatory collective bargaining.  Free enterprise brought unprecedented prosperity to the U.S. and Britain after the [[Industrial Revolution]], but its benefits were sharply limited by government regulation and unions in Britain in the 20th century and, to a lesser extent, the United States.   

'''Free Enterprise''' is commerce with [[business]] transactions carried on between private individuals or corporations without [[state]] interference or mandatory collective bargaining.  Free enterprise brought unprecedented prosperity to the U.S. and Britain after the [[Industrial Revolution]], but its benefits were sharply limited by government regulation and unions in Britain in the 20th century and, to a lesser extent, the United States.