Market and State
I have taken the following from Capitalism: A Short History:
In the controversies that have surrounded capitalism, state and market are usually regarded as antipodes, and for good reason. Market action and governmental-political action are indeed beholden to different logics, especially in the democratic era. Each one has a different foundation on which its legitimacy rests: unequally distributed ownership rights on one side, equal citizenship rights on the other.
They follow different procedures: there one of exchange, here a process of debate with the aim of building consensus and deciding by majority…The pursuit of particular advantages is the clear goal of market action…Attainment of the general welfare, by contrast, is the aim of politics.
If you overlook the formal language – its not too hard to see that he is talking about one of the serious problems of our time.
We have many of them, and he is helping us to carefully untangle two of them.