> One of those definitional things; it'll never be a truly unregulated wild west market, but then what is?
Well, I didn't say "unregulated". You can have regulation that doesn't create huge barriers to entry.
What would be a free market today? Something with very low barriers to entry (capital, expertise, legal requirements) and with lots of competition.
For example real estate agents in some developing countries. They frequently have only a high school degree (if that), they don't really need a ton of money to get started (just some nice clothes and some time), and the legal aspects are mostly covered by notaries, anyway. In many developing countries the real estate market is not consolidated so you have a million independent real estate agents, who frequently don't even have exclusivity for the property they're selling. So you could literally have 10 agents promoting the same property.
Well, I didn't say "unregulated". You can have regulation that doesn't create huge barriers to entry.
What would be a free market today? Something with very low barriers to entry (capital, expertise, legal requirements) and with lots of competition.
For example real estate agents in some developing countries. They frequently have only a high school degree (if that), they don't really need a ton of money to get started (just some nice clothes and some time), and the legal aspects are mostly covered by notaries, anyway. In many developing countries the real estate market is not consolidated so you have a million independent real estate agents, who frequently don't even have exclusivity for the property they're selling. So you could literally have 10 agents promoting the same property.