[Superman]

Guys, I'm really confused. The nice folks over on the PARF Forum insist that markets are "efficient" in the sense that the natural forces of supply and demand reliably keep businesses honest and require that businesses, at least over the long haul, provide maximum value. They say that these forces are enough (again, at least in the long haul) to ensure that poor quality sellers and sellers who are dishonest and/or unscrupulous cannot cheat consumers effectively over an extended time frame. Regulations, they say, are unnecessary because these "efficient" market forces are.....efficient.