Free Enterprise The term "free enterprise" is often used to describe America's market system. Unfortunately, when the government sets rules and standards for the companies in the system, the result is not free enterprise. Free enterprise is defined by Wilson S. Johnson, President of the National Federation of Independent Business, as "the successful marriage of personal freedom with economic freedom". (1) With free enterprise comes competitive pricing, more wealth which is distributed widely among the population, and small business survival--an important trait when over 50% of America's non- government workforc