Completely disagree, the market can regulate itself with a check and balance systems... oh wait, it already does. It's called "supply and demand", but in order for supply and demand to work, it must be available to everyone.
From what I see of checks and balances/supply and demand here in Oz, it's a case of charge the maximum it's thought a market can bear.... bugger those living on or below the poverty line. And when supply exceeds demand, instead of adjusting prices to meet with the avarage consumer's propensity to pay, products just start disappearing from the shelves... Coles and Woolworths, our big 2 supermarket chains do it all the time. What's more, plenty of people I know have lost their jobs over it because their companies major buyers have dropped out.... no demand = no reason to suppy.