When states interfere, it should be only to create... - Deepstash

When states interfere, it should be only to create a legal and efficient environment for these markets to coexist in peace. No forced traditions, labor, or plans will do well in the long run, because people do not work efficiently under such rules.

To build efficient markets, states should build the right legal structures and interfere as rarely as possible. Because markets are efficient and regulate themselves. Adam Smith highly popularized this theory. However, it looks true when you look at the highly efficient markets today compared to the ones from the past century.

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tomjoad

Introverted Extravert

The Worldly Philosophers - Book Review (Economics)

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