Szabadpiaci
Szabadpiaci is a Hungarian adjective meaning “free-market” and is used to describe an economy, market conditions, or policies that operate on the principles of voluntary exchange, private property, competition, and limited government intervention.
Etymology: szabad means free and piac means market, with the suffix -i forming an adjective. Szabadpiaci is
Historical usage: The term gained prominence in Hungarian political and economic discourse during the transition from
Features and policy implications: A szabadpiaci gazdaság relies on private property, market-based price signals, and competition,
Criticism and challenges: Critics argue that imperfect institutions or inadequate regulation can lead to inequality, volatility,
See also: free market, market economy, liberalization, privatization, deregulation, transitional economies.