Free Markets vs Regulation
This cluster centers on debates about whether free markets can self-regulate effectively or if government regulations are necessary to address market failures, externalities, and issues like regulatory capture.
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Why can't both be true? Regulation is equally problematic as free markets.
There's one thing worse than the government regulating a market: a company regulating it :)
Because you can't force a 'free' market by introducing even more regulation and aggressive enforcement?
What makes you think the free market doesn't regulate?
Doesn't the free market regulate this?
Are there no unregulated markets?
Free market doesn't mean unregulated market
Yes, and that's exactly why we need regulations, and can't leave it to the market!
The market doesn't regulate itself.
This might be more of a reflection on the governance where you are. The idea of an unregulated country sounds terrible to me, and I am unaware of examples of it working. Most countries regulate things like aircraft safety with good effect. Regulating certain professions to ensure minimum standards is another good example.If you have any interest, check out the below link for a great piece of legislation. It protects NZ consumers and effectively puts a warranty on everything you buy here.An