It's pretty clear that unregulated capitalism does not work; that's why we have regulations.
What kind of world would it be if we didn't even have rules about things like how much lead is acceptable for a person to consume, or what constitutes 'acutely toxic,' or what you are and aren't allowed to put in food?
"Well," the free market idealist replies, "it would be fine. Nobody would consume things with a lot of lead over a competitor without lead. Nobody would use unlabeled toxic things after the first few incidents. Nobody would eat or drink poison over a nutritious competitor."
And that malicious failure to acknowledge that people are not omniscient or in possession of perfect information about The Market on a second-to-second basis is what leads to us accepting those sorts of stupid arguments.
