It may not be “politically correct” to say it, but capitalism is one the most cooperative of human endeavors. Competition is an essential part of a capitalist economy. Know more:
IT may not be “politically correct” to say it, but capitalism is one the most cooperative of human endeavors. Competition is an essential part of a capitalist economy.
Feudalism was killed, and capitalism was created in the aftermath of the bubonic plague from 1346 to 1353. With perhaps 30 percent of Europe’s population dead, employers had to compete with higher wages to attract workers. Competition is a fundamental part of a capitalist economy. It forces businesses to transform, compete, and ultimately provides consumers with less expensive and higher quality products. When a business does not effectively compete, it dies.
Governments facilitated colonization. Likewise, national and global wealth inequality is not the result of free-market capitalism and competition but by governments expediting and promoting the dominance of finance and corporate self-interest .We think of the Cold War as this monumental battle between the US and the USSR. The USSR never stood a chance. The US held a monopoly on food and technology.
Fast-forward to the 21st century and we find that the US no longer has a monopoly on almost anything. For example, domestic television manufacturers employed 130,000 in 1966 and today less than 20,000 are making televisions.
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