Editing Market economy (section)

=== ''Laissez-faire'' ===
{{main|Laissez-faire}}
{{see also|Economic liberalism}}
''Laissez-faire'' is synonymous with what was referred to as strict [[free-market]] economy during the early and mid-19th century{{Citation needed|date=December 2014}} as a [[classical liberal]] ideal to achieve. It is generally understood that the necessary components for the functioning of an idealized free market include the complete absence of government regulation, subsidies, artificial price pressures and government-granted monopolies (usually classified as [[coercive monopoly]] by free market advocates) and no taxes or tariffs other than what is necessary for the government to provide protection from coercion and theft, maintaining peace and property rights and providing for basic public goods. [[Right-libertarian]] advocates of [[anarcho-capitalism]] see the state as morally [[illegitimate]] and economically unnecessary and destructive. Although ''laissez-faire'' has been commonly associated with capitalism, there is a similar [[left-wing]] ''laissez-faire'' system called [[free-market anarchism]], also known as [[Left-wing market anarchism|free-market anti-capitalism]] and [[free-market socialism]] to distinguish it from ''laissez-faire'' capitalism.<ref>Chartier, Gary; Johnson, Charles W. (2011). ''Markets Not Capitalism: Individualist Anarchism Against Bosses, Inequality, Corporate Power, and Structural Poverty''. Brooklyn, NY: Minor Compositions/Autonomedia{{page needed|date=March 2022}}</ref><ref>"It introduces an eye-opening approach to radical social thought, rooted equally in libertarian socialism and market anarchism." Chartier, Gary; Johnson, Charles W. (2011). ''Markets Not Capitalism: Individualist Anarchism Against Bosses, Inequality, Corporate Power, and Structural Poverty''. Brooklyn, NY: Minor Compositions/Autonomedia. p. back cover.</ref><ref>"But there has always been a market-oriented strand of libertarian socialism that emphasizes voluntary cooperation between producers. And markets, properly understood, have always been about cooperation. As a commenter at Reason magazine's Hit&Run blog, remarking on [[Jesse Walker]]'s link to the Kelly article, put it: "every trade is a cooperative act." In fact, it's a fairly common observation among market anarchists that genuinely free markets have the most legitimate claim to the label "socialism." [http://c4ss.org/content/670 "Socialism: A Perfectly Good Word Rehabilitated"] {{Webarchive|url=https://web.archive.org/web/20160310111716/https://c4ss.org/content/670 |date=2016-03-10 }} by [[Kevin Carson]] at website of Center for a Stateless Society.</ref> Thus, critics of ''laissez-faire'' as commonly understood argues that a truly ''laissez-faire'' system would be [[anti-capitalist]] and [[Libertarian socialism|socialist]].<ref>Nick Manley, [http://c4ss.org/content/27009 "Brief Introduction To Left-Wing Laissez Faire Economic Theory: Part One"] {{Webarchive|url=https://web.archive.org/web/20210818131348/http://c4ss.org/content/27009 |date=2021-08-18 }}.</ref><ref>Nick Manley, [https://c4ss.org/content/27062 "Brief Introduction To Left-Wing Laissez Faire Economic Theory: Part Two"] {{Webarchive|url=https://web.archive.org/web/20210516192528/https://c4ss.org/content/27062 |date=2021-05-16 }}.</ref>