No, absolutely not. Laissez-faire without the pre-established principles of freedom is like a referee in soccer not knowing, nor having established the rules of soccer beforehand and acting surprised when the players end up playing a home-grown version of rugby instead.
The government has failed to establish beforehand the rules of a marketplace game to develop the kinds of freedom that exist in a game of soccer. And as a result, a vile-maxim occurs, instead of gameplay guided by a paradox of freedom (rules) designed to protect collective interests (value to the audience) while maximizing the pursuit of individual interests (ball-handling skills and scoring goals).
Laissez-faire will only work when the rules of the game have been pre-established, and the players demonstrate, by their unique skills, actions, and transparency, to abide by.
Mind you; no marketplace can exist without rules, for bad apples exist no matter what market construct strikes your fancy. The private sector is not any better in establishing regulations to control themselves than the public sector is. The rife banking sector scandals are a clear but not the only example of the private sector running amok, indulged by laissez-faire oversight.
All marketplace models require the same amount of rules and oversight, for the nature and character of the participants are the same. Hence, when we fail to define what constitutes freedom at the core of our so-called free-market models, including freedom’s paradoxical rules, we ought not to be surprised laissez-faire is not the way to pre-empt systemic and uncontrollable disaster embedded within those models, many of which disasters have yet to bubble to the surface.
Yes, we are fooling ourselves by believing in an unquestionable, misguided, and outdated religion of economics we have put so much of our blind trust in. A religion that has not produced anything of substance to the strengthening of the evolution of humanity, instead quite the opposite. By falsifying freedom, our economics are directly responsible for a systematic dumbing-down of human ingenuity and capacity.
