Competition breeds innovation. The problem is that American capitalists means everything in the supermarket is made by one of three conglomerates and prescription glasses are several hundred dollars more expensive because one fucking company has near total market control.
competition does NOT breed innovation. at least not under capitalism. market competition always leads to monopolies in the long term unless the state gets involved and regulates them out. under capitalism and the quest for endless market growth and market dominance, the âwinnersâ of the market either buy up their competitors leading to these massive conglomerates or end up the sole existing business in that industry. these monopolies being so big have a lot of power and control over the market and that tends to shut out any businesses that might attempt to compete.
also, its not hard to see that competition isnât leading to innovation when you look at certain industries. like the tech industry right now especially. so many of these big tech giants see some other successful company (like tiktok) and then implement their own version of their key product (youtube shorts, facebook/instagram reels) in an attempt to recapture the market share. competition isnât leading to innovation there. its leading to a bunch of companies copying each other as they fight to dominate the market. its pretty fucking stupid and unimaginative imo. not even remotely innovative. (and annoying, if i want to watch tiktok videos, iâll open up tiktok, i donât want short videos on youtube. thatâs where i go for longform video content. stop clogging up my feed, youtube!)
what actually breeds innovation is cooperation and collaboration. this is where ideas are shared and improved uponâcollaboratively. this is how human innovation has always worked before venture capitalist investor types fucked us all over. even nature and evolution work more this way when you see it through a more holistic lens. collaboration breeds innovation.
that said, its not like we need competition to have 27 different hot sauces. and since market competition is about market share and stockholder returns and not actually about having a quality product, without market competition/domination we could easily have a lot more hot sauces and a lot more innovation within the hot sauce world. take that capitalist cockroaches!
Competition in a capitalist society breeds innovation in one, and only one, aspect: how can a commodity be mass produced the cheapest?
In a capitalist economy in which the populace has a decreasing market share, your only option for profit is to make a similar product more cheaply.
Outside of the ethical ramifications, the biggest detriment capitalism ultimately induces on a supply sided economy is the death of innovation.
If the population youâre marketing your product to has to factor in their ability to maintain basic necessities, it doesnât matter to them how innovative or unique your hot sauce is.
