Let's start this off right!
Let's start this off right!
The god of Abraham is a lie. This is reality 101. If you can't see past a lie this simple, such low-hanging fruit, then you can't hope to see past most others. You're not engaging with reality.
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Certain ideas about "the free market" are lies. It is never frictionless for a buyer to switch from one vendor to another. Accurate information about vendors, products, or markets is not free; gathering information is an expense. In the absence of regulation and enforcement against false advertisement, most advertisements will be false. In general, honest free markets can only exist where regulation strongly punishes dishonest participants; this implies that honest free markets will be taxed to pay for regulatory enforcement.
Well said! The people complaining about too much regulation are often looking for ways in which they can abuse others or place them at risk in furtherance of greed.
Mostly I think they're missing how much they benefit from the presumption that truly dishonest market participants will be shut down by regulation — and that therefore, most truly dishonest participants never bother to show up. The cryptocurrency space put up a flag saying "No Regulation Here, We Promise!" and oh my goodness, suddenly there's so many scams there.
... and, it turns out, the regulators saw that flag too, and now they're busting some of the scams.
I think this ties in to the myth of 'fairness'. That hard work will ensure success. That the cream rises to the top. That the free market is meritocratic. Wealth will never be fairly distributed without regulation.