About Free Markets

I am in general supporter of free market, however where I am against libertarians and other assorted species is that I do not think that Free Market is a way to Nirvana or Redemption.
In my opinion market is an interesting concept a instrument, a good instrument but still one which can be abused. Since its very premise is based on perfect information and free participation, It can not self correct against fraud, misinformation and coercion.
So it needs outside force to enusre smooth working , what about law and order ? Law and order is necessary but not sufficient. The essential guarantee for free market is presence of morality.
I find it disappointing that people are so dismissive of morality.
It may because of three reasons

1)Association of morality with religion.
2) Association of morality with collectivism and negation of individualism
3) Difficulty in establishing morality
4) Impossibility of quantitative analysis of morality.

I think 4) is much more imporant that what seems at first glance.

Law and order is limited because it acts after the incidence and is at best an disincentive while the act is being carried out.

As someone who has studied and science and engineering which is application of former, there is a tendency to ignore anything which can not be quantified, this ofcourse is a terrible limitation of reductionism in particular and so called scientific way in general. That is why I am not particulary fond of rationalists.

As a reason morality is not much discussed topic. Instead the talk centres around incentives and disincentives, this ofcourse assumes incentives and disincentives can regulate human behaviour and ensure compliance of a large population.

But this is incorrect for this reason, immorality has a way of seeping into populace, because it appeals to animal inside us. This greedy animal acts according to instinct, what is more it is not rational . Law and order can prevent this animal from injuring others, but all this time this greed lurks and infects others.

This animal can not be eliminated but leashed, and the best leash is self-discipline which can only come from morality. This sadly lacks from any discussion.