But, as soon as speculators become an important influence in the market, their business is to speculate on each others behaviour. - Joan Robinson

It is much easier to organize control over one industry serving many markets than over one market served by the products of several industries.

But once we bring historical time into the argument, it is not so easy to present the free play of the market as an ideal mechanism for maximizing welfare and securing social justice.

In general, the nightmare quality of Marx's thought gives it, in this bedevilled age, an air of greater reality than the gentle complacency of the orthodox academics. Yet he, at the same time, is more encouraging than they, for he releases hope as well as terror from Pandora's box, while they preach only the gloomy doctrine that all is for the best in the best of all possible worlds.