Control limits a free market economy (10)
I believe the answer is:
capitalism
'market economy' is the definition.
(capitalism is a kind of market economy)
'control limits a free' is the wordplay.
'control' becomes 'cap' (cap is a kind of control**).
'free' is an anagram indicator.
'limits'+'a'='limitsa'
'limitsa' with letters rearranged gives 'italism'.
'cap'+'italism'='CAPITALISM'
(Other definitions for capitalism that I've seen before include "Economic political system" , "Politico-economic system" .)