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But to have a functioning free market, you need a basic functioning legal system, so people exchanging goods and services don't get robbed.
by c_crank 3y ago
But to have a functioning free market, you need a basic functioning legal system, so people exchanging goods and services don't get robbed.
- WalterBright 3y agoThat's correct.
- c_crank 3y agoIt means if you try to apply a free market system to a place without law and order, you'll have about as much of a mess as you started with. So the first step is to enforce governance.
- WalterBright 3y agoN. Korea and the Soviet Union and pre-free market China also had effective governments.
- throw9away6 3y agoFor the market to be free the legal system has to exert a lot of pressure. The natural state of markets is not free.