Yes, "leave it alone" does not work, but we can reason about that: buyers must be assured that sellers have the goods they are selling. contract law must be enforced for trades to happen.
The "fuzzier" the reasoning to put controls in, the more they seem due to failure. That means that emotional arguments, based on "fairness" are out: practical arguments based on things that simply have to exist for an open market to exist are in.
It's complex, but we have clear limits on each end. Total lack of control won't work, but control based on politics or emotional appeal won't work either. The criteria has to be "things that make the market more efficient"
The "fuzzier" the reasoning to put controls in, the more they seem due to failure. That means that emotional arguments, based on "fairness" are out: practical arguments based on things that simply have to exist for an open market to exist are in.
It's complex, but we have clear limits on each end. Total lack of control won't work, but control based on politics or emotional appeal won't work either. The criteria has to be "things that make the market more efficient"