Agorism, the Laissez-faire Marketplace

Laissez-faire noun ˌle-ˌsā-ˈfer, ˌlā-, -ˌzā-: a doctrine opposing governmental interference in economic affairs beyond the minimum necessary for the maintenance of peace and property rights (Merriam Webster)

The Agora was the ancient Greek marketplace, literally, a gathering place.

Not only does the unregulated marketplace exist; it thrives in most areas of the world, and has for the history of mankind.  Journalist Robert Neurwirth discusses the informal economies of Nigeria and China in his book, Stealth of Nations, on his blog, and in this informative video.

The informal economy, agorism, isn't just something that works well in other countries. We all participate when we shop at garage sales, hire babysitters, trade a cooked meal for a neighbor's help in painting the house. Our kids get five bucks or video game time in return for cleaning their rooms. Nothing is more natural than trading without third-party interference.

Why trade?

You have a flat tire. Your nephew is going to fail seventh grade math.  If you spend an hour with your nephew, and that's exactly what he needed to get him over the top, and your brother changes your tire so you can now drive your car to work, aren't you both better off? Economic activity, voluntary trade, leaves both parties better off, as we mutually agree to exchange something we have for something we want more.

Don't we NEED government to manage our transactions?

If you tutor your nephew in math, and your brother compensates by changing your tires, should you each have to report some dollar-denominated value to the IRS and apply for permits to do business?

When you are employed, or in other words, when you trade your time for money, that money is merely an IOU that you can trade for other goods or services. So instead of directly trading your time tutoring for a tire change, you are trading your time for an IOU that you can use to get your tires changed or for something else.

The original economic activity was barter. The most natural economic activity still is. Using an IOU or a paper or electronic currency doesn't change that, and a regulatory third party only saps a goodly percentage or our productivity and makes us poorer.

The Saturday Night Austrian discussed agorism in greater detail at Jake O'Connor's in Excelsior.  While there was vigorous debate over particulars, all agreed they'd be happy to engage in the informal market incrementally now and to a greater extent as it grew. The good news is that it is growing, and especially in the areas where regulations are becoming more onerous, such as health care.  

But you're not going to hear about it formally.  Trade with your neighbors.  Talk.  You'll find the informal market all around you.