To dissolve, submerge, and cause to disappear the political or governmental system in the economic system by reducing, simplifying, decentralizing and suppressing, one after another, all the wheels of this great machine, which is called the Government or the State. --Proudhon, General Idea of the Revolution
Respecting property rights is all well and good if the existing regime of property ownership is legitimate but if it's illegitimate, if property was got through theft, through corruption, through racial privilege, through, say, colonial conquest, then that's another matter. Markets don't correct this sort of injustice in fact they perpetuate it, they have no way of compensating the victims, no mechanism for disbursing reparations. And, so its no wonder that the Good Guys (however misled they are about the economics of free trade) are deeply suspicious of markets.
Jamaica Kincaid, in A Small Place, made the point quite brilliantly. "Do you know why people like me are shy about being capitalists? Well, it's because we, for as long as we have known you, we were capital, like bales of cotton and sacks of sugar, and you were the commanding, cruel capitalists, and the memory of this is so strong, the experience so recent, that we can't quite bring ourselves to embrace this idea that you think so much of." Let me make the point another way. If I were to walk into a room full of people and rob them at gun point, it’s unlikely that I’d be able to convince them that now, after my crime, we should respect each others property rights and only engage in voluntary exchanges going forward. And even if I were to convince them, perhaps by gun point as well, they’re not likely to be happy about it. Certainly, any moral case for establishing a free market that I attempted to make in that room under those circumstances would be sensibly rejected.
Yet that’s what so many black and brown hued people around the world are being asked to do by free market advocates. Never mind that you’re renting land that would have been yours had it not been stolen a hundred years ago, never mind that your employer is educated and wealthy and that you’re not largely because for generations his ancestors denied opportunities to yours, never mind past injustices, let’s do the best we can given the current allocations of resources. In a phrase, that’s morally bankrupt.