Labor unions are as important as Mother and Apple Pie to a quality life in America

25 Images of Markets "Regulating Themselves" (Click on this heading to read more)

When economists talk about how a market "regulates itself," what they mean is that markets reach an equilibrium between supply and demand.
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This says nothing about whether or not this equilibrium will be a good thing for society. It simply states that if consumers choose what to buy and producers choose what to sell and how to produce it, the market settles on a product distribution and prices.
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Lately, many people I know have argued that "free markets" mean something more. They see markets as ethically right or ethically moral, meaning pursuit of profit always somehow leads to a greater good.
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Unfortunately, morality isn't built into markets.
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Markets were fine with child labor and slavery. Both were viewed simply as cheap sources of labor. It wasn't until people fought against child labor and slavery that these things became unacceptable in a market (at least in most Western countries).