[103834] in Cypherpunks
RE: Another question about free-markets...
daemon@ATHENA.MIT.EDU (Matthew James Gering)
Mon Oct 5 02:49:29 1998
From: Matthew James Gering <mgering@ecosystems.net>
To: "Cypherpunks (E-mail)" <cypherpunks@cyberpass.net>
Date: Sun, 4 Oct 1998 23:34:09 -0700
Reply-To: Matthew James Gering <mgering@ecosystems.net>
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
