The market of course.
Former Fed chairman Alan Greenspan had that same thought before market collapse 10 years ago. Then he changed his view at least partially.https://www.nytimes.com/2008/10/24/busi ... panel.html
Mr. Waxman noted that the Fed chairman had been one of the nation’s leading voices for deregulation, displaying past statements in which Mr. Greenspan had argued that government regulators were no better than markets at imposing discipline.
“Were you wrong?” Mr. Waxman asked.
“Partially,” the former Fed chairman reluctantly answered, before trying to parse his concession as thinly as possible.
Economics is not a black-and-white, yes-or-no, one size fits all answer. Deregulation only partly works. Propping up "too big to fail" companies only partly works. There are a million shades of grey.
I agree, except partly
as it can be anything from 1-99%.
I just wanted to show OP that advocate of free market changed his view when proven wrong.
In a bigger picture, seb146, I think we mostly agree.
Economics can never be fully right because time makes changes.