Earlier quoted context omitted.
Markets existed for six thousand years, they predate ancient egypt. It is scientists and engineers who raised our standars of living, and they appeared recently. It is absolutely perserve for proponents of markets to take credit they do not deserve. Take the invention of Penicilin, Alexander Flemming raised our standards of living while working at a public hospital. It was british and US governments who established m…
So you don’t actually know how ancient or medieval markets worked. That explains the confusion. Generally people couldn’t arbitrarily start a business without permission. Rulers would limit who could say sell salt and permission it’s self was quite valuable. Think Arrakis being handed over in Dune, only one house had the right to mine spice and that would change based on politics not just competence. And that’s just…
So let me get this argument straight: 1. Slavery and serfdom are bad for the economy. We are talking pure economics, not morality 2. Markets have freely sold and bought slaves for thousands of years 3. Slavery predates the concept of a government, it predates writing and predates ancient egypt 4. Abolition of slavery required intervention of government and violence
5. Therefore you have just made a pro-regulation argument while arguing against government. You cannot claim that unregulated markets magically and efficiently organise economy towards it's most efficient state.
The same situation applies to child labour. The exact same situation arised with health and safety. The exact same situation arises with our markets selling precision weapons to bloody dictators that use our weapons against us.
So we have 4 spesific cases of markets delivering rettible outcome and not a single counterexample from you for marktes delivering optimal outcome.