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by koanarc 5805 days ago
>> The market is created by laws

I always thought that the market was created by two people engaging in a voluntary exchange of goods and services.

I'm not 100% sure about the "laws are created by politicians" bit, either, seeing as most politicians scarcely even read most legislation, much less understand it. Although I suppose you did qualify that as the way things should work.

2 comments

Markets can't work without property rights. If people agree on property rights, they have implicitly created a law.
I think it would be more accurate to say the market is regulated by laws.

"laws are created by politicians" probably differs between countries. I wonder which is worse, politicians that don't really care about what they sign or politicians that do care. An incompetent politician that do care is a frightening combination.