For Walter Eucken in particular, capitalism was not the haphazard assemblage of individuals envisioned by Smith. Rather, it was composed of two fundamentally incompatible structural orders that he termed the "transaction economy" and the "centrally administered economy." Although these orders are incompatible in their essences, real economies necessarily combine elements of both, and that's where the problems start. Especially when parliaments get involved, elements of the administrative order can be captured by the most powerful members of the transactional order, hence the fear of cartels and private power.

Mark Blyth, Austerity, loc. 361