The ultimate lack of regulation is anarchy. In an "unregulated market", the people themselves would regulate it. Written laws or unspoken laws. The social contract is always there as a soft wall to mold our conducts, both done by the individual and the community that surrounds them with expectations of decent behavior.
The ultimate lack of regulation is anarchy. In an "unregulated market", the people themselves would regulate it. Written laws or unspoken laws. The social contract is always there as a soft wall to mold our conducts, both done by the individual and the community that surrounds them with expectations of decent behavior.