Economic Competition Needs Competitors To Work

Too many people do not think through the concept of economic competition and its positive effects on an economy’s outcome and stability. The idea that economic competition will produce lower prices and push innovation is only valid if no one wins by eliminating their rivals. It only works if the competitors stick around. If one player gets too powerful or gains too much market share, their need to compete falls away and stops the forces that control prices and produce new produces and services.

Too many people applaud, admire, and even support large corporations and their efforts to stifle competition. A competitive economic system only works when there are plenty of competitors.