Question
Competition is a central feature of capitalism and forces companies to behave in certain ways. Capitalists aim to maximize the profits on their investments; one
Competition is a central feature of capitalism and forces companies to behave in certain ways. Capitalists aim to maximize the profits on their investments; one way to do that is by poaching customers, workers, resources, and capital from other capitalists. Competition therefore, introduces a new constraint on the way that individual capitalists operate. It's no longer just greed that motivates them; it's also fear. That fear (of being driven from business by more successful competitors) forces executives to behave in certain ways, regardless of their personal preferences or values. Capitalism has become more competitive over time, not less (thanks to technology, globalization, privatization, and improved management skills). Even very large global companies face competition that is unforgiving and ruthless, according to Jim Stanfords economics for everyone. Does this impact culture and facts or concepts which, if generally understood, might change economic policy
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