"Greed is good" --Says the monkey with his hand trapped in a jar.
History has taught us that an enforced rule of law is the only way to prevent scammers from being the dominate players (by number, not size) in a market.
Negative. It ceases to be adaptive to be a cheater when cheaters exceed a certain percentage of the population. The advantage comes from information asymmetry.
Law makes cheating less adaptive. But even without law, cheats would not exceed some small minority.
Law makes cheating less adaptive. But even without law, cheats would not exceed some small minority.