"The market" you're talking about is not some natural process working itself out. It's a game played in an arena where a small number of players have an asymmet

"The market" you're talking about is not some natural process working itself out. It's a game played in an arena where a small number of players have an asymmetrical visibility of the field and an ability to influence the rules as its played. If our public policy is to simply do nothing and let "the market" figure it out, the result will be mass exploitation for the benefit of a few. The actual market is comprised of the decisions people make, given all the man-made rules and available information. It's not something we decide to adopt; it's simply the way humans allocate resources in the face of choice and scarcity. And for many reasons, it doesn't usually optimize for anything in particular, besides short-term utility. Going laissez faire is like riding a bike with no hands. You'll be stable for a while, but when you have to react to real-world changing conditions, if you don't take action, you're inevitably going to wreck.