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Single Idea 24424

[catalogued under 24. Political Theory / D. Ideologies / 11. Capitalism]

Full Idea

Classical liberal political economists have pointed out that the natural operation of the market is an extremely efficient way of coordinating human behaviour on a large scale without coercion or appeal to authority.

Gist of Idea

Free markets very efficiently coordinate behaviour, without need for coercion

Source

Robert Paul Wolff (In Defence of Anarchism [1970], 3.2)

A Reaction

Wolff says that this is true, but it is not rational to allow it if you actually know how to control the markets to limit their worst effects. This freedom of markets is a mantra for the right wing, but what is the downside of free markets?

Book Reference

Wolff,Robert Paul: 'In Defence of Anarchism' [Harper Torchbooks 1976], p.81