&gt; Naturally regulated markets<p>There is no such thing. &quot;Free markets&quot; presume both particular context (which is not present in any real state, though it can sometimes be approximated) and particular artificial regulation (particular, particular constructions of property rights.)<p>The idea that &quot;naturally regulated markets&quot; is a meaningful concept (much less a meaningful concept with some correspondence with &quot;free markets&quot;) is absurd on its face.