Single Idea 20525

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

Full Idea

Free markets inevitably lead to unemployment and ruined businesses, when the capitalist market is punctuated by a 'trade cycle' of boom and bust. .. There are speculating, swindling middlemen. ...and the nature of work is degrading and alienated.

Gist of Idea

Free markets lead to boom and bust, pointless middlemen, and alienated workers


Friedrich Engels (Speeches in Elberfeld [1849]), quoted by Jonathan Wolff - An Introduction to Political Philosophy (Rev) 5 'Arguments'

Book Reference

Wolff,Jonathan: 'An Introduction to Political Philosophy (Rev)' [OUP 2006], p.148

A Reaction

[compression of Wolff's summary] Wolff observes that middlemen are heroes to lovers of the market. The idea of alienation seems to be that everyone should be in charge of their own work. That may approach anarchy.