this post was submitted on 20 Dec 2023
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[–] assassin_aragorn@lemmy.world 17 points 10 months ago (15 children)

Capitalism has one positive, and that's the notion of competition leading to the best outcome as they try to win over consumers.

We've lost that though with how unfettered it's become in general. Companies merge and conspire, eliminating competition.

[–] Cowbee@lemm.ee 9 points 10 months ago (6 children)

Competition doesn't lead to innovation in improving people's lives, but company profits. See: enshittification.

[–] assassin_aragorn@lemmy.world 2 points 10 months ago (5 children)

I see that as a consequence of the absurd monopolies we have. The best product should be what's the most popular, and enshittification is counter to that. It tanks the product quality, and in a market with lots of competitors, it would be punished.

[–] rando895@lemmy.ml 5 points 10 months ago (1 children)

It is one of the consequences of monopolies, but monopolies are a consequence of economic competition.

The "winner" gets the losers stuff and customers (mergers for example), making the winner bigger and more able to manipulate the market to their benefit.

When there are few enough companies profits can be chased without consideration for anything else (planned obsolescence, shipping jobs outside the country, lay-offs, etc.)

So, like you said except in a for profit market, monopolies are inevitable.

[–] assassin_aragorn@lemmy.world 3 points 10 months ago

In the absence of regulation, absolutely. If we had more stringent anti trust legislation though it might be possible to avoid.

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