Notices by ☭⚑ Comrade Angles ⚑☭ (angle@anticapitalist.party), page 64

"If everything was legal for like twenty-four hours I'd start a communal garden."
#thepurge #purge #latestagecapitalism

Some examples:

Theft
This is also an example of an externality. I spend some time stealing to take something and give nothing in return. This costs me my time and effort and you the thing stolen, and gains me the thing stolen. Overall, this transaction has negative utility from the time spent that created nothing, while the transfer of ownership balances out. Thus, it's overall a waste, but because *I* make a profit, I'll continue doing it. (Again, something we have government to balance out by hitting me with a stick until I stop stealing things.)

Employment
If I employ 100 people, then each person represents 1% of my employees - but I represent a hundred percent of their employer. Thus, I have a massive advantage over them in negotiations. Whether I hire any given one of those people is only a small factor in business, but it's a huge factor in their "Do I get to keep eating". This is the reason why we have minimum wages and unions, is to try and correct this power imbalance - either by short-circuiting the negotiation entirely with a minimum wage, or by allowing all of my employees to negotiate as a group and thereby equal my power. These have their own problems, of course, but again - nother thread. XD

Monopoly and Monopsony
If I'm the only seller or buyer for a good, I can use this position to extract excess value from those who purchase or sell it. I can also use this position for more strategic objectives, like driving my competition out of business or manipulating other markets.

Anbother problem, not exactly one with markets but a problem with everything that markets do little to nothing to address and occasionally exacerbate, is power asymmetry. Anytime the people engage in a transaction are of unequal power, there is the possibility of the more powerful person extracting more value than they should otherwise be able to. The most obvious case of this is violence and the threat of violence, but it manifests in much more subtle ways too.

Another problem of markets is the limits on information. I cannot possibly know all the details of the local market, nor can everyone else. When distributed evenly, this lack of information decreases the efficiency of the market and causes resources to be expended on less than optimally efficient activities. When distributed unevenly, this lack of information creates power asymmetry, and allows those with more of it to drain resources from the market - say, by buying a commodity high and selling it low. Now, this can be a useful correction mechanism, and isn't wholly without benefits, but it can be a problem too under the right circumstances. :/