Profits for All: Flexible Wages in a Free Economy

Creative destruction is a long-recognized and accepted feature of a dynamic market economy. But can this destruction go too far? Should there be no limit to the number of jobs, families, and even entire communities that are sacrificed for the sake of greater economic production and efficiency? Could it be, as some critics claim, that a drastic fettering of markets is the only solution?

Michael Watson and Grattan Brown acknowledge the collateral damage of markets and seek a solution that will...