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| 20525 | Free markets lead to boom and bust, pointless middlemen, and alienated workers |
| 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. | |||
| From: Friedrich Engels (Speeches in Elberfeld [1849]), quoted by Jonathan Wolff - An Introduction to Political Philosophy (Rev) 5 'Arguments' | |||
| 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. |