A “free market” is not a market where everyone is “free” to do whatever they want.
A “free market” is where all participants are “free” from personal and property rights violations by others.
Clearly, to do this, regulation is needed.
[quote=Arraya]There is no such things as a “free market”
Government intervention is taking place at all times and everywhere. Laws of property, contract, and tort are state creations that allocate certain rights to some people and deny them to others.[/quote]
Yes, and no. They are state creations, but the existence of property, contract, tort actually make a market free if they protect everyone’s rights in the same manner.
They don’t really “allocate” rights, they define which rights are protected and they regulate transactions and ownership, not outcomes.
