Transactional redistribution is just a description of what happens in a genuinely freed market. Markets undermine privilege. Without the protection afforded by monopoly privileges (including patents and copyrights), subsidies, tariffs, restrictions on union organizing, protections for long-term ownership of uncultivated property, and so forth, members of the power elite, forced to participate along with everyone else in the process of voluntary cooperation that is the freed market, will tend to lose ill-gotten gains. They will retain wealth only if they actually serve the needs of other market participants. And they will be unable to use the legal system to protect their wealth from squatters (by enabling them to maintain uncultivated land indefinitely) or to limit vigorous bargaining by workers (both because workers will be freer to organize without statist restrictions and because the absence of such restrictions will give workers options other than paid employment that will improve their negotiating positions).
While unfettered competition obviously will not create mathematical equality, it will make it much harder for vast disparities of wealth to persist than at present. The state props up the power elite, using the threat of aggression to shift wealth to the politically favored. Removing the privileges of the power elite will lead, through the operation of the market, to the widespread dispersion of wealth members of the power elite are able to retain at present in virtue of the protection they receive from the political order.
The means of transactional redistribution is the market. The direct agents are ordinary market actors, while those responsible for the elimination of statist privileges that distort the market and prop up the wealth of the power elite are the indirect agents. The rationales for transactional redistribution include thevalue of freedom and the injustice of the privileges transactional redistribution corrects.
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