WHERE I AGREE WITH EDMUND BURKE

In his famous Reflections on the Revolution in France, Burke makes a very good point:

I should, therefore, suspend my congratulations on the new liberty of France until I was informed how it had been combined with government, with public force, with the discipline and obedience of armies, with the collection of an effective and well-distributed revenue, with morality and religion, with the solidity of property, with peace and order, with civil and social manners. All these (in their way) are good things, too, and without them liberty is not a benefit whilst it lasts, and is not likely to continue long.

I interpret this to mean that what we call a civil society has a great many moving parts and we should be careful about tinkering with them. It also entails that men grow accustomed to these parts whether they realize it or not.   If we turn this insight onto the theory of the Free Market Fairy, we can readily see there is a contradiction between the "creative destruction" of Capitalism and the conservative value of social stability.  According to Forrest McDonald, Alexander Hamilton was also aware of this tension (pp. 136-37):

One key departure from [Adam] Smith had to do with what was "natural" economic behavior. Smith posited that profit maximization was natural and universal: "Every individual is continually exerting himself to find out the most advantageous employment for whatever capital he can command," and every individual "necessarily endeavours" to direct his industry so "that its produce may be of the greatest possible value." Hamilton perceived that this thinking was flawed; he recognized that social values and habits normally dictate economic activity, not the other way around. "Experience teaches," he wrote, "that men are often so much governed by what they are accustomed to see and practice, that the simplest and most obvious improvements, in the [most] ordinary occupations, are adopted with hesitation, reluctance and by slow gradations." Men would resist changes that would improve their lots so long as even "a bare support could be ensured by an adherence to ancient courses," and possibly even longer.