Monday, November 24, 2008

Markets without regulators

Anyone who tries to tell you that markets aren't possible or efficient without the government to set the rules has clearly never tried to buy stolen credit card numbers online. From Wired:

In recent years, law enforcement groups have gotten craftier at infiltrating and taking down web forums. High-profile takedowns include DarkMarket and ShadowCrew. While those sites increase the risk of infiltration by law enforcement, they reduce the risk of being ripped off by a seller or buyer – thanks to reputation ratings not unlike those found on eBay.

3 comments:

Anonymous said...

I read your comment on The QandO Blog regarding the government-financed Interstate Highway System and it literally made my jaw drop.

To read a comment that had such a deep understanding of economics and the free markets was mind blowing.

I've bookmarked your blog. Keep up the great work.

Raționalitate said...

Thank you! But out of curiosity, where was the comment? I was looking for it but can't find it...

Anonymous said...

It's here at the very bottom of the page.

http://www.qando.net/details.aspx?Entry=8191