This is an economy in which the government- ideally- has nothing to say about what, how, and for whom goods are produced; the factors of production are privately owned.

the old way of life was represented by superstition, an angry god, and absolute submission to authority. the thinkers of the age of reason ushered in a new way of thinking. this new way championed the accomplishments of humankind. individuals did not have to accept despair. science and reason could bring happiness and progress. kings did not rule by divine right. they had an obligation to their subjects. europeans pondered the implications for nearly a century. americans put them into practice first.

i want to say death; parole, probation, and fines are still being used all the time.