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Trust in Freedom or in Equality? A Comment on Bernard E. Harcourt's The Illusion of Free Markets

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  • Brivot Marion

    (Université Laval)

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    Abstract

    “At the end of the day, the notion of a 'free market’ is a fiction. There is simply no such thing as a non-regulated market—a market that operates without legal, social and professional regulation. Those forms of regulation, including the criminal sanction, are precisely what distributes wealth and resources, what makes it possible for the Chicago Board of Trade to exclude non-members from the trading floor, for the Big Four accounting firms to effectively control accounting standards and for large commercial banks to essentially coordinate lending practices” (p. 242).

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    Bibliographic Info

    Article provided by De Gruyter in its journal Accounting, Economics, and Law.

    Volume (Year): 1 (2011)
    Issue (Month): 2 (November)
    Pages: 1-10

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    Handle: RePEc:bpj:aelcon:v:1:y:2011:i:2:n:7

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