Regulated or not, all systems operate according to rules.
The question is, “Who gets to write them?”
(And also, “Are they written in digits, ink, stone, whispers, or blood?”)
From Born a Crime, by Trevor Noah:
Under apartheid the government provided no public transportation for blacks, but white people still needed us to show up to mop their floors and clean their bathrooms. Necessity being the mother of invention, black people created their own transit system, an informal network of bus routes, controlled by private associations operating entirely outside the law. Because the minibus business was completely unregulated, it was basically organized crime. Different groups ran different routes, and they would fight over who controlled what. There was bribery and general shadiness that went on, a great deal of violence, and a lot of protection money paid to avoid violence. The one thing you didn’t do was steal a route from a rival group. Drivers who stole routes would get killed. Being unregulated, minibuses were also very unreliable. When they came, they came. When they didn’t, they didn’t.
There is something magical about Soweto. Yes, it was a prison designed by our oppressors, but it also gave us a sense of self-determination and control. Soweto was ours. It had an aspirational quality that you don’t find elsewhere. In America the dream is to make it out of the ghetto. In Soweto, because there was no leaving the ghetto, the dream was to transform the ghetto.
For the million people who lived in Soweto, there were no stores, no bars, no restaurants. There were no paved roads, minimal electricity, inadequate sewerage. But when you put one million people together in one place, they find a way to make a life for themselves. A black-market economy rose up, with every type of business being run out of someone’s house: auto mechanics, day care, guys selling refurbished tires.