n (politics|uncountable) a socio-economic system based on private property rights, including the private ownership of resources or capital, with economic decisions made largely through the operation of a market unregulated by the state.
n (economics|uncountable) a socio-economic system based on the abstraction of resources into the form of privately-owned capital, with economic decisions made largely through the operation of a market unregulated by the state.
n (countable) a specific variation or implementation of either such socio-economic system.