The Golden Rule: He who has the gold, makes the rules.
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Free market mechanism as you demand it just brought us to where we are, because the absence of rules that must be obeyed by everybody is nothing else but anarchy where the law of the jungle rules.
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So what? I'd say it's naive to think that it's otherwise SB. It won't matter a wet slap if ALL of the worlds governments all got together and agreed on "The Rulz". Greed will always find it's way in. Greed and avarice will always corrupt good men, including those whom we empower. Your not going to find a utopian ideal where "rules must be obeyed by everybody". Sorry, too Orwellian for my tastes...
I say, let the law of the jungle prevail! Capitalism is ruthless. I can't think of a single company that went into business to break even or operate at a loss... Companies want to operate in the black... There's little "morality" anymore in business, whether on the part of government or otherwise. Crush the little guy and "grab with both hands and make a stash" to quote Pink Floyd...