Lets take a business that is largely unregulated and look at how the "Market" performs in the best interest of the people. Let's take the supplement business for instance. They can make crazy claims that much of the population believes due to market based disinformation. There is little regulation here, and it is a great example of why we need government over-site.

Quote:
The Food and Drug Administration can’t protect you. It didn’t protect Sonette Marras, a 48-year-old mother of seven who died in Hawaii last month. It didn’t protect Michael Lee Sparling, a 22-year-old Army private who died at Fort Bliss two years ago. Nor can it protect the more than 2,000 Americans a year who will die or suffer illness after taking over-the-counter dietary supplements.
Don’t expect the FDA to protect you now. The laws it enforces protect the $30 billion-a-year industry that makes and sells the supplements, not the 53 percent of Americans who take them.
Not quite medicines, not quite food, dietary supplements fall into a regulatory black hole. A big black hole. And one of the most glaring examples of what can go wrong occurred in Dallas, where a company continued to manufacture dietary supplements with an illegal ingredient, DMAA, one year after this laboratory-made stimulant was deemed unsafe.
The story begins in 1994, when Sens. Orrin Hatch, R-Utah, and Tom Harkin, D-Iowa, introduced a federal law, the Dietary Supplements Health and Education Act, that opened the door for supplements to be sold without safety testing.
This means that the pills, powders and potions on sale across the nation are deemed safe — until someone gets sick. “We don’t approve these products for safety or efficacy prior to going to market,” says Dr. Daniel Fabricant, director of the Division of Dietary Supplement Programs at the FDA. “They’re not like drugs. The way the law is, firms don’t have to register their products, so dietary supplements come on to the market freely.”
It’s a huge market. In 2009, 55,000 supplements were on sale in the U.S., according to the Government Accountability Office. That’s up from 4,000 in 1994, a nearly 1,300 percent increase.
When a supplement is suspected to have caused deaths or illnesses, it’s up to the FDA to prove that the supplement is unsafe. “The burden is on us,” says Fabricant. “Proving that something caused harm directly is very challenging.”


Most of this shit is snake oil with no science behind it, and yet the "Market" lies and kills people for profit.

If the market is flooded with misinformation, how can a consumer make 'informed decisions'.

Let me break it down. The free market is much like the players in any sport. There needs to be a referee to keep things fair. People generally do not follow rules without the threat of consequences.

[Linked Image from w3.the-kgb.com][Linked Image from oracle.the-kgb.com]
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