Free markets can be a wonderful thing, creating prosperity and a better life for many. Consequently, there are some who oppose any sort of government regulation of business. However, if you visit a country where there is no such regulation (or laws are not enforced) one inevitably sees corruption, monopolies, exploitation of workers, pollution, and environmental destruction.
The grand challenge is to find a balance.
In this TED talk, MargretheVestager, makes a compelling case for why regulation, particularly of large corporations is important. Part of the issue is that many of these companies are actually not committed to free markets but rather to protecting their market share.
I found it interesting that she started with a Biblical view of human nature, referring to Genesis, and also emphasised values such as trust and community.
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