In none of these cautionary examples did the free market do the three things businessmen say it always does: weaken the coercivepowerof the state, create a democratically minded middle class, or expose the populace to liberal ideals from abroad.
Who can seriously doubt that the power which a millionaire, who may be my employer, has over me is very much less than that which the smallest bureaucrat possesses who wields the coercivepowerof the state and on whose discretion it depends how I am allowed to live and work?
Here is an example of the perverted moral reasoning that results from the left's illusion of moral authority: For Walsh, it is not as bad for liberals to use the coercivepowerof the administrative state to subvert democracy as it is for conservatives to vote.