It's a market free enough that the majority of participants trust that no other participants have an unacceptable systemic advantage. It's the participants that

It's a market free enough that the majority of participants trust that no other participants have an unacceptable systemic advantage. It's the participants that decide as a free association of people, it doesn't matter what anyone else thinks. That's my effort anyway. It's somewhat similar to the situation with democracies, there are many democratic systems. Each favours some over others to at least some extent, the question is whether there is a significant disillusionment among the electorate and an appetite among them for change. As a Brit I don't like the fact that a candidate for President in the US can get a majority of the actual votes, but lose due to the electoral college system, as has happened. An American Might deplore the fact that we don't directly elect our Prime Minister. There are those in each country that deplore these features of their own systems. Nevertheless our respective systems as a whole enjoy broad support among their electorates and that's what matters.