Yet even when efficient, markets are not supernatural. The arcane truth guarded deep in the inner sanctum — efficient markets disproportionately privilege the haves. During the 1940s, Western nations, including Australia, faced resource scarcity on a scale that would have collapsed a pure market system. Proponents of total market freedom often view regulation as “distortions”, yet this is a misunderstanding of what a market is. We must acknowledge that our preference for market allocation is a choice — a choice that often comes at the direct cost of those who cannot compete on market terms.