Capitalism

Capitalism was an economic and political system involving the private production and trade of goods and services, with minimal, if any, government intervention. It was founded by political scientist Adam Smith, who had originally named the system "Laissez-faire", French for "let alone". This led to the alternative terms of "free market" and "free enterprise".

Prior to first contact with the Ferengi Alliance, the United Federation of Planets had came across a great deal of rumors and accounts to the effect that the Ferengi were practitioners of a corrupt form of capitalism, basing their entire style of trade on the concept of "caveat emptor", or "buyer beware". These rumors were later proven to be true.