Most people believe that government must regulate the marketplace. The only alternative to a regulated market, the thinking goes, is an unregulated market. On first glance that makes sense. It's the law of excluded middle. A market is either regulated or it's not. But what's overlooked, writes Sheldon Richman, is the fact that the alternative to a government-regulated economy is not an unregulated one. As a matter of fact, "unregulated economy," like square circle, is a contradiction in terms. If it's truly unregulated it's not an economy, and if it's an economy, it's not unregulated. The term "free market" does not mean free of regulation. It means free of government interference, that is, legal plunder and other official aggressive force.
"You have a situation where a person owed $8 and lost their house. I mean, how is that equitable?" asked Michigan Supreme Court Justice Richard Bernstein.
A Michigan Man Underpaid His Property Taxes By $8.41. The County Seized His Property, Sold It—and Kept the Profits.
A state law allows counties to effectively steal homes over unpaid taxes and keep the excess revenue for their own budgets.
A newspaper staffed by the country's most famous journalism school says it shouldn't have covered a Jeff Sessions event.
The Eighth Amendment prohibition against excessive fines and fees applies to states as well, SCOTUS rules, opening a new way to challenge outlandish forfeitures.