Pretty much, the problem with that idea that the market solves everything on its own is that it just isn’t true unless you have some very specific kind of product (one where the barrier to entry into the market is low so there is plenty of competition, the buyer can judge the quality even if they lack expertise and buys frequently and can recognize whether the product is actually the same or changed in the meantime and where the buyer is free not to buy) and 90% of products aren’t like that, more if you take away regulation on things like trademarks.
Well, of that and of the fact that the government regulators dropped the ball in various areas either on regulation or enforcement of that regulation.
Wasn’t the us kind of about a lack of regulation?
Pretty much, the problem with that idea that the market solves everything on its own is that it just isn’t true unless you have some very specific kind of product (one where the barrier to entry into the market is low so there is plenty of competition, the buyer can judge the quality even if they lack expertise and buys frequently and can recognize whether the product is actually the same or changed in the meantime and where the buyer is free not to buy) and 90% of products aren’t like that, more if you take away regulation on things like trademarks.
Any product like that would be a product most people would just make themselves, like paper airplanes