Economic liberty refers to the right and ability of individuals to engage in economic activity free from unwarranted government interference or restrictions. It encompasses a range of freedoms, including the freedom to produce, trade, consume, and invest without undue hindrance from the state. Economic liberty is closely tied to concepts such as limited government, individual autonomy, and economic freedom, all of which are central tenets of classical liberalism or libertarianism. In essence, economic liberty allows individuals to pursue their economic interests freely, promoting innovation, competition, and growth in the process.