There is no such thing as "The Market", there are markets, all of which are composed of arbitrary rules created by people. They are all corruptible, and the question here is if ours is being corrupted and is in need of some systemic changes.
Not really. http://www.angrybearblog.com/2010/11/hausers-law-is-extremel...
"it is corrupted by government regulation"
It is corrupted by people. If we had no government it would still be corruptible.
"These are basic economic principles."
Like if I have a bigger gun than you, I get the rewards? Oh, you mean principles that we agree to in the form of government? Principles which are arbitrary and chosen by humans and vary from market to market! Yes, those "principles".