Aristotle recognized markets inevitably generate greed and tried to cap it

Evidence

Aristotle’s first move on this front is to favor barter over market relations, because barter hews to need, while markets veer toward gain. However, even for need provision, Aristotle recognizes the inevitability of currency-based exchange arising from trade across distances. So he reaches for other ways to cap the impulses generated by the presence of the market. One of these is moral, the other ontological. — Wendy Brown, Undoing the Demos, 177

Categorization

  • XREF: Connects to the broader thesis of this book (Brown) about how economic rationality displaces political rationality — Aristotle’s fences against homo oeconomicus as the historical counterpoint to the current chapter’s economic constitution of the political.