Markets are self regulating. Boudreaux:
Reviewing "skeptical environmentalist" Bjorn Lomborg’s new book, Tim Flannery describes Lomborg and other advocates of free markets as "those who believe that markets should not be regulated" ("Is It Hot in Here?," September 9). This description is incorrect.
Those of us who advocate free markets believe that markets should be tightly regulated, and that such regulation is best achieved by maximum possible consumer choice along with freedom of producers to enter and exit all industries and freedom of consumers and suppliers to determine the terms upon which they will trade. We believe also that government regulation of markets too often shields producers from competition and, hence, from the need always to pay close attention to consumers’ wishes. Such "regulation" by government makes markets less, not more, regulated.
Perhaps we’re mistaken; perhaps we’re correct. Either way, it is inaccurate to say that we "believe that markets should not be regulated."