Am I the only one who thinks Glenn Reynolds only knew this quotation because it's the name of a popular science fiction trilogy? Because it certainly doesn't mean what he thinks it means, as William Graham Sumner—one of the three people on whom the label "social Darwinist" can be pinned in good faith—noted in 1877:
Fluctuations in the measure of value are as inconvenient and fatal as fluctuations in the measure of length and bulk . . . . Business is turned into a guess, or a game of hazard, where the prevailing anarchy is overruled by accident:—
"Chaos umpire sits
And by decision more embroils the fray
By which he reigns; next him high arbiter
Chance governs all."
In such a condition of things the gamblers have the advantage. The stock exchange becomes little better than a faro bank . . . . The temptation of excessive gains leads from the beaten path of business. Speculation without money takes the place of honest industry, extending from the stock exchange everywhere . . . . Honesty ceases to be even a policy. (Works 472)