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Markets are definitely not created by regulation. Markets exist even in the absence of a functional government at all.
by ryanwaggoner 10y ago
Markets are definitely not created by regulation. Markets exist even in the absence of a functional government at all.
- akiselev 10y agoAny definition of "market" relevant to this discussion necessitates property rights, which require a functional government and a bare minimum level of regulations. We're talking about the Republican party, not prehistoric tribes, so a nebulous theoretical definition of "markets" that is easily satisfied by two people trading seashells is entirely unhelpful.
- deleted 10y ago[deleted]
- specialist 10y agoOpen markets require standards, property rights, fair and impartial judicial system, currency, etc. Without government, there can be no open markets. Perhaps you're thinking of black markets.