Sounds like a thinly veiled communist, who is not trying to sound like one.
As far as the meaning, he's just discussing the power of each group; he
acts like they directly opposed to one another, the worker vs the employer.
To sum it up, he is saying, don't try and control free markets, let them be free,
but don't try and control the power of the workers either.
I think he believes that wages should be set by individual business with the input/oversight of the union---that it would be an even and equal battle--but sorry, some unions are stronger than others and some businesses are GREEDY and inflexible-so no-I don't agree with this.