(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.
That is an assertion, and my recollection of history suggests that is not the case. Would you mind backing that up?