Free markets are not without rules

The writer of the Jan. 12 letter “‘Free market would be chaos” makes a confused mischaracterization. Free markets do have rules — fundamental ones. A free market is one in which participants can interact in any way they like, so long as all transactions are voluntary. Force and fraud are not permitted in a free market.

To support his argument, the writer pleads: “We all want economic growth, workers protected from exploitation, investors protected from fraud, and air and water protected from pollution.”

Of course we do. Each of these goals is realized by adhering to the two rules of free markets: No force, no fraud. Exploitation and fraud are disallowed because force is disallowed. Pollution is a violation of the property rights of every person affected it, and in a free market, polluters are liable for those impacts.

The writer’s call for “sensible” regulations glosses over the fact that a huge proportion of regulations are arbitrary, outdated or fail to achieve their stated ends. Connected cronies use regulation to hinder competitors and give unfair advantages to industry giants at the expense of the rest of us. Top-down restrictions on voluntary behavior are nothing more than the fraudulent application of force.

A free market is a system of emergent order, like language. It adheres to universal laws. History has shown that the natural consequence of free exchange is growth, innovation and human flourishing. Don’t conflate freedom with chaos.

Adam Haman, Las Vegas The writer is the southern regional representative for the Libertarian Party of Nevada.