It astonishes me how many people still believe in unregulated markets when stories like this are on the front page of HN daily. Is there any amount of evidence that would convince people who still believe they are efficient or useful?
Often this is a case of the right kind of regulation vs the wrong kind of regulation, as opposed to a some-vs-none argument. Few people are absolutist but many err towards none because they don’t trust politicians to understand what regulation hurts vs helps. A lot of regulation is rationalized as to “save the children” but conveniently creates grand benefits for established players. It’s not crazy to be default skeptical with the plenitude of examples.
