The market is only good for optimizing cashflow. It doesn't care one bit about human needs or happiness. External factors are needed if you care about humans.

Having a bunch of factory jobs replaced by a machine is an excellent example of this. People are blaming the management, but really it's the market forcing it. If the management here doesn't do this and their competitors do, they'll become uncompetitive and eventually go out of business.

The worst part is that there isn't an easy solution to this. You can try to re-train those workers so they can get new jobs, but eventually those jobs will be automated away as well. You can try to make laws to protect the jobs, but this makes it inefficient and prone to corruption.