I disagree with consumers only being “mildly priviledged by competition” because the alternative would be monopoly or oligopoly and arbitrary pricing power by incumbents
Certainly, what I mean to say is that these particular instances of competitive behavior I’ve highlighted result in little benefit to consumers, not that competitive pressure is useless. But it is the case that a lot of competition in capitalism that is just entrepreneurs wastefully wrestling shareholder value from each other, and I’m not sure why I haven’t heard of this criticism before.
Certainly, what I mean to say is that these particular instances of competitive behavior I’ve highlighted result in little benefit to consumers, not that competitive pressure is useless. But it is the case that a lot of competition in capitalism that is just entrepreneurs wastefully wrestling shareholder value from each other, and I’m not sure why I haven’t heard of this criticism before.