The market is not a place, a thing, or a collective entity. The economy is much more like a rain forest than a machine. The crucial role of public policy should be to foster an environment that promotes healthy growth in society.
Free societies let individuals make decisions based on their own knowledge and local situation.
Market prices convey much of this knowledge. When we respond to market prices, we coordinate our specialized knowledge with the specialized knowledge of others. Freedom to try, and ownership of the results, are essential elements of this process. People respond to incentives in both private enterprise and public life. Incentives help explain why policy changes prompt people to make different decisions.