The free-enterprise system is generally designed to give freedom to businessmen, entrepreneurs, innovators, etc. in order to encourage creativity and economic development. However, this system is not always completely free of regulation.
Some of the benefits of having no regulations surrounding this system is the fact that creativity and innovation can be fostered. Moreover, the market is allowed to self-regulate through the forces of supply and demand.
On the other hand, there are some benefits in implementing government regulations. If the government has some input in the economy, it can prevent disloyal practices such as monopolies. It can also protect some people that would be negatively affected by the free market in terms of healthcare, labor rights or housing.
