Furthermore, even if greed was human nature that would be an argument against capitalism and not for. We should be creating systems that mitigate our negative tendencies as opposed to ones that encourage them.
Furthermore, even if greed was human nature that would be an argument against capitalism and not for. We should be creating systems that mitigate our negative tendencies as opposed to ones that encourage them.
Yes I agree. I think competition in business is important for innovation, but it should be regulated to some degree to prevent megacorps from owning everything. Heck, it may seem like there’s a lot of smartphones to choose from, but Samsung makes the screens for iPhones. They live off of each other and competition isn’t really even a priority anymore.
It’s worth noting that private business isn’t even necessary to have competition. For example, USSR had different design bureaus that would compete with each other. When a new technology was developed, each would put out a proposal and the best one would be selected. The advantage of that model however was that everyone shared the learnings from a project. So overall knowledge and expertise would increase. With private competition this doesn’t happen and companies end up relearning lessons from other companies.