> A free market does not require any of this. In theory, no, but in practice market failure is usually due to information asymmetry and consolidation. The real

> A free market does not require any of this. In theory, no, but in practice market failure is usually due to information asymmetry and consolidation. The real world is, unfortunately, not full of that economists call "perfect competitors". > in a free market the consumer is free to choose different options if given producer does not adhere to their personal standards This requires information symmetry -- per Wikipedia, a free market is "a system in which the prices for goods and services are determined by the open market". How can the this work if pricing information isn't available to one side of the market? > A free market does not require a government ruling them to adhere to some business practices Free markets in practice require legal guardrails around things such as information symmetry and anticompetitive behavior, in order to protect against market failure. Again, per Wikipedia: "[free markets] require a framework that allows new market entrants". This regulation is not for its own sake, but _to keep a market free (i.e., open to competition) by protecting it from the grasp of one extremely powerful entity going forward_.