To be true sources of opportunity, markets need policing. This makes the market a political construct. In a true market, one that is both open and free, there exists at the level of the whole market the three branches of government: legislative, judiciary and executive.
However, the shutters on spending have not come down completely. Overall, we are seeing a broadly rational response to the difficulties we face. The massive financial downdrafts hitting the economy this year will force a mix of pricing and wage-setting restraint, moderated employment plans, and higher hurdles for new investment.