You didn’t provide your definition of free markets. Do you agree with “an economic system in which prices are determined by unrestricted competition between privately owned businesses”?

“Socialism is a system in which the government owns the means of production.”

A different definition of socialism is “a political and economic theory of social organization which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.”

In your opinion is capitalism compatible or incompatible with free markets? With your definition of socialism it could be compatible with free markets but with the alternative definition socialism would not be compatible.

Thank you for posting Will Durant’s quote!