This picture of "laissez faire, laissez aller" should be complimented
by even stricter legislation coupled with effective and draconian law
enforcement agents and measures. The illegal and the illegitimate
should be stamped out, cruelly. Freedom to all - is also freedom from
being conned or hassled. Only when the righteous freely prosper and the
less righteous excessively suffer - only then will we have entered the
efficient kingdom of the free market.
This still does not deal with the "not serious" and the "personality
disordered". What about the inefficient havoc that they wreak? This,
after all, is part of what is known, in legal parlance as: "force
majeure".
Note
There is a raging debate between the "rational expectations" theory and
the "prospect theory". The former - the cornerstone of rational
economics - assumes that economic (human) players are rational and out
to maximize their utility (see: "The Happiness of Others", "The
Egotistic Friend" and "The Distributive Justice of the Market"). Even
ignoring the fuzzy logic behind the ill-defined philosophical term
"utility" - rational economics has very little to do with real human
being and a lot to do with sterile (though mildly useful) abstractions.
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