“Free” markets are extremely efficient at what they’re intended to do. Which is finding a fair price for a goods/service. But there are MANY nuances: 1. Are yo

“Free” markets are extremely efficient at what they’re intended to do. Which is finding a fair price for a goods/service. But there are MANY nuances: 1. Are you making sure everything you value is being priced in? For example, a free market will find you a very efficient price for an assassin to get rid of your spouse. But without external regulation it won’t factor in whether or not getting rid of your spouse is actually a good thing for society or not. 2. Is all the information available to all participants? This is extremely difficult to achieve and in a sense the entire financial system is a hundreds of billions of dollar industry whose goal is to improve information transparency marginally. 3. The word “free” doesn’t mean what a lot of the people who go on and on about “free” markets think it means. It means markets where information is freely available and buyers and sellers can participate freely. The “free market” propagandists, on the other hand, insist free means free from government regulation, when in fact to achieve a real free market where buyers and sellers can bid freely and information is easily available to all, regulation is a prerequisite. And in a democracy the regulation is likely to be government regulation.