View this link:

http://www.eschatonblog.com/2008_09_14_archive.html#5987348935957939894

Atrios over at Eschaton:

The entire financial system is practically collapsing and they’re lamenting the possibility of more regulation. I don’t think the sports/referee metaphor is perfect, but it’s probably good enough. People who prattle on about “the free market” are usually too stupid to have a clue how complicated and pervasive the “rules” had to be to to get a well-functioning modern market system: sophisticated concepts of contracts and enforcement, property rights, legal entities, proper accounting, bankruptcy, limited liability, etc… etc…, did not descend from the heavens but were, in fact, created.