Comment: Re:Libertarianism and insider trading (Score 1) 149
To be fair, it's not a "truly free market" that requires perfect knowledge, but closer to an efficient market requirement (strict form).
I've been cultivating the idea that it's not "free markets" that we need now as much as "competitive markets". Free markets seem good for personal freedom, and can lead to competitive markets. Competitive markets, on the other hand, are what drive an economy to grow. In the US, we seem to have a good amount of "free markets", and need to focus more on the "competitive" aspects.
In terms of what's best for an individual country, we want to pursue institutions that that strengthen "free" or "competitive". Arguments that are against regulations because they are "anti-free" need to also take into account the competition-advocating parts.