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There is misconception that "free market" means "no regulation". Actually free market theory works (perfectly) under extremely specific conditions, see for inst
by dbdr 9y ago
There is misconception that "free market" means "no regulation". Actually free market theory works (perfectly) under extremely specific conditions, see for instance https://en.wikipedia.org/wiki/Perfect_competition https://en.wikipedia.org/wiki/Perfect_competition
Often government regulation (not intervention) can be useful to get closer to such ideal conditions for the market to work efficiently. One example is taxes that cancel externalities. Can net neutrality also be justified in that way?