| 单词 | private enterprise |
| 释义 | private enterprise The system by which economic activity is undertaken by independent individuals or firms, rather than under central direction. Supporters of private enterprise claim that it is generally beneficial not so much because it is private, as because it is enterprising, which makes for greater efficiency and more technical improvements than centrally controlled firms would produce. Critics point out that because private enterprise is private it has no incentive to worry about externality, and that its enterprise is often directed to rent-seeking, lobbying the government for subsidies and protection. |
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