—Without them, one or the other parties to a market transaction would be able to dominate prices at various times.—
But isn’t that how the law of supply and demand works? And there is no need to be patronizing; not all of us have lived in Muslim countries, after all.
Markets are practice. How does the theory get put into practice?
Every participant in a market economy ought to understand what it components are, as well as its premises, its justifications, its moral superiority, its weaknesses, etc.
Ignorance truly does lead to slavery.
I'm not faulting you, only the fact that you've apparently never been taught. I find that unthinkable, in America. And yet, here we are.