What if you think you should be able to enjoy peace and quiet and your neighbour wants to play loud music constantly?

These sorts of issues are examples of where we must accept that we live in an imperfect world, and, as such, we must make compromises. I completely agree that one should not be allowed to freely emit noise pollution, as it directly affects the livelihoods of all who are within earshot -- imparting a psychological cost, one could say. It is not realistic to say that everyone must be completely quiet unless all parties affected have given their consent, and as such, we make reasonable limits based on context as to the amount of noise pollution that we can generate. These limits are most commonly implemented as municipal noise pollution bylaws.