Exactly. A perfect market requires these things: - Perfect market information - No participant with market power to set prices - Non intervention by governme

Exactly. A perfect market requires these things: - Perfect market information - No participant with market power to set prices - Non intervention by governments - No barriers to entry or exit - Equal access to factors of production - Profit maximization - No externalities The less you have those, the less efficient your market is. "Free markets" aren't these magical things that arise on their own in nature. They are carefully crafted and maintained artificial environments and most are far from efficient. Market forces are not a silver bullet that will solve all problems if we just sit around and wait long enough for the invisible hand to do everything.