Unregulated markets don't work, except in the way that cancer works to propagate itself before its host dies. They're not self-balancing ecosystems. After all, they're comprised of people.

Completely managed and controlled markets similarly don't work, and for largely the same reasons. After all, they're comprised of people.

Humanity has a unique knack for at least these two things: 1) constructing games, 2) cheating those games it has created for itself to play.

It's no longer enough to hedge against the risks of idealized perfectly spherical and rational actors bouncing about. We have to begin to take into account our own complexity and how we subvert the rules we lay out for ourselves.