The efficiency of free markets.

"Of course, imitation and adulteration are the essence of competition—they are but another form of the phrase 'to buy in the cheapest market and sell in the dearest.' A government official has stated that the nation suffers a loss of a billion and a quarter dollars a year through adulterated foods; which means, of course, not only materials wasted that might have been useful outside of the human stomach, but doctors and nurses for people who would otherwise have been well, and undertakers for the whole human race ten or twenty years before the proper time. Then again, consider the waste of time and energy required to sell these things in a dozen stores, where one would do. There are a million or two of business firms in the country, and five or ten times as many clerks; and consider the handling and rehandling, the accounting and reaccounting, the planning and worrying, the balancing of petty profit and loss. Consider the whole machinery of the civil law made necessary by these processes; the libraries of ponderous tomes, the courts and juries to interpret them, the lawyers studying to circumvent them, the pettifogging and chicanery, the hatreds and lies! Consider the wastes incidental to the blind and haphazard production of commodities—the factories closed, the workers idle, the goods spoiling in storage; consider the activities of the stock manipulator, the paralyzing of whole industries, the overstimulation of others, for speculative purposes; the assignments and bank failures, the crises and panics, the deserted towns and the starving populations! Consider the energies wasted in the seeking of markets, the sterile trades, such as drummer, solicitor, bill-poster, advertising agent. Consider the wastes incidental to the crowding into cities, made necessary by competition and by monopoly railroad rates; consider the slums, the bad air, the disease and the waste of vital energies; consider the office buildings, the waste of time and material in the piling of story upon story, and the burrowing underground! Then take the whole business of insurance, the enormous mass of administrative and clerical labor it involves, and all utter waste ..."

The Jungle, Upton Sinclair, 1906