andrewducker: (Default)
[personal profile] andrewducker

Date: 2018-02-12 12:48 pm (UTC)
danieldwilliam: (Default)
From: [personal profile] danieldwilliam
For "free markets" here I am implicitely assuming such general and ordinary regulations as might be considered uncontroversial in a well run market ranging from a common system of weights and measures through effective legal remedies for breach of contract, proper health and safety and product safety protocols and so on.

The idea of a perfectly free market outside of a context of a foundation of operating rules is, to my mind, unworkable.

But it does all get a bit murky and at the margins is probably a political decision - that we decide to exchange more or fewer people being ripped off for lower regulatory compliance costs, or a less regulated market for a more innovative one - sort of thing.

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