In a completely free market, unsupervised by kings and priests, avaricious capitalists can establish monopolies or collude against their workforces. If there is a single corporation controlling all shoe factories in a country, or if all factory owners conspire to reduce wages simultaneously, then the labourers are no longer able to protect themselves by switching jobs.
From the Book Sapiens: A Brief History of Humankind, Harper Collins, 2015, ISBN 0062316095
Date Added: 2016 Dec 28
Copyright © 2015 by Yuval Noah Harari