Neoclassical economics is an economic theory that argues for markets to be free. This means governments should generally not make rules about types of businesses, businesses' behaviour, who may make things, who may sell things, who may buy things, prices, quantities or types of things sold and bought. The theory argues that allowing individual actors (people or businesses) freedom creates better economic outcomes. These outcomes may be a higher average standard of living, higher wages, better average life-expectancies, and higher GDP. 