This slogan comes from the inaccurate view that markets justly mete rewards and punishments like the fundamentalist, strict-father version of God.
As noted before, from a progressive perspective, markets are tools to be used by Us the People for our benefit. If we were to let markets make important policy decisions for us, we would be like Don Quixote on his first sally. Seeking adventure, the would-be knight rode out of town and then let his horse decide where to go. The horse returned him to his barn, of course!
But at least his horse got him safely home. If we abandon ourselves to the judgment of “markets” without clear, consistently-enforced expectations for fair play and fair treatment of workers, customers, communities, animals, and the planet, the corporations that tend to dominate markets could be far crueler.
The effect of letting the market decide too often means that the two or three (sometimes only one) companies that dominate an industry decide for us what our options are. Insisting that the government, as the people’s servant, set rules to structure markets for our benefit, increases confidence in business and helps markets function in our interest.
But what do you think?