NODE 2aef7963RE: Another question about free-markets...
Matthew James Gering <mgering@ecosystems.net>Mon, 5 Oct 1998 01:34:23 +0800
Jim Choate wrote:
> Now in a free-market, by definition, there is no law.
A free market is not the absence of law (that is anarchy), a free market
is the absence of government intervention in trade and commerce.
That does not mean people and businesses are immune from criminal law,
fraud statutes, civil liability, etc.
> If this includes lying, denying consumers information,
The market addresses information disclosure by favoring vendors that
disclose. The legal system addresses intentional misinformation.
You are confusing Laissez Faire [free market] Capitalism with
Anarcho-Capitalism.
Matt