"The question we must ask ourselves is not: Do we wish to live in a free market or a socialist economy? It is: What set of regulations can we put in place to ensure markets provide the maximum prosperity for all?
If a politician or commentator argues that the state should intervene in a contract between two or more people, the burden is on him or her to provide a clear explanation for the failure of free markets to deliver an optimal outcome. Any argument for the control or regulation of markets must be clearly defended. I have such a defense. There is a simple answer to the question: Why do markets fail? In the following pages I explain that answer and I offer a set of policies designed to ameliorate and, I hope, to prevent the worst effects of financial crises."
Prosperity For All, Page 2