Can markets be too free?

Yes. Marketplaces can be too free. Laissez-faire is one version of that symptom.

The reason is that no matter what construct of a marketplace one envisions, paradoxical rules to protect the collective freedom must be implemented to prevent an erosion of trust in the marketplace from the pursuits of a vile-maxim by bad actors. Since bad actors exist in any marketplace construct, so must be the rules to guard against them.

Simply put: without paradoxical rules of freedom there will be no freedom.

When the paradoxical rules of freedom have not preemptively been defined, the marketplace will merely implode under a lack of trust in the integrity of the marketplace. The trust that led the participants to engage in the marketplace, to begin with.

To use an analogy, traffic cannot be deemed a reliable system of travel without rules. Rules that do not distinguish between a driver of a Ferrari and a Mini Cooper, and holds them to the same standards. Imagine traffic without regulations, and you will understand how not all people will abuse its presumption of freedom, but the few that do will make it unsafe for the rest of us.

Such is the foundational concept of freedom. Traffic does not dictate your destination. It does protect the collective interest of everyone pursuing their own, and most efficiently and safely possible.

Hence rules, as the Greek definition of the word economics defines, are the rules of the house. And without rules, there will be no household worthy of trust, or value for that matter.

 

Let’s lead the world by example with new rigors of excellence we first and successfully apply to ourselves.

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