Reply #6: Wasn't capitalism supposed to *promote* competition? [View All]

Does anyone remember when one pro-capitalism argument used to be that capitalism promotes competition, which would be good for "consumers" (that's us) because competition would drive corporations to compete on price and quality of their products, providing us with stuff that's both better and cheaper.

I do remember that. I remember thinking one point that this argument doesn't entirely jive with the fact that there's ever more crap for sale, lots of stuff that's cheap and of poor quality.
Looking back, i realize that after some point in time that particular argument wasn't heard of much anymore.

Even though mr Gates was't entirely correct in his assesment, what we all can see happening is the opposite of competition: through mergers, takeovers and aquisitions ever more economic power is concentrated in ever fewer corporations, in the hands of ever fewer individuals.

Methinks we've been had. Yet again. It's just one of many of their fairly succesfull con-jobs.