That is an assertion, and my recollection of history suggests that is not the case. Would you mind backing that up?
(markets have multiple definitions. a bazaar or person to person trade has existed as an independent variable of governance. a stock market ("the market" usually referred to in these sorts of articles) exists today in a wide variety of modern governance, from authoritarian to liberal. Arguably Athens had a liberal democracy, but no stock market)
How what works?
> You're dodging the question.
I'm not. Every liberal democracy I know of has a market economy.
> a stock market ("the market" usually referred to in these sorts of articles)
Why should "markets" refer exclusively to stock markets? What about the most essential type of market: commodities? Markets have existed for millenia, since humans began to trade.
> exists today in a wide variety of modern governance, from authoritarian to liberal
I didn't say liberal democracy is a prerequisite for markets (and I don't think it is). I said markets are a prerequisite for liberal democracy.
> Arguably Athens had a liberal democracy, but no stock market
But they had markets, which agrees with what I said. In fact, ancient Athens engaged extensively in trade. It's one of the major reasons it became an important center of culture, arts, and philosophy.