The absolute bedrock of capitalism is competition.
The whole essence of our free market system lies in consumer choice.
That’s why it’s okay that companies charge what they like, and offer the products and services they like. Ultimately, if the consumer is unhappy, they can take their business elsewhere.
Take away that choice and the consumer is powerless.
Goodbye, free market.
via Why AT&T’s deal for T-Mobile must be blocked Brett Arends ROI – MarketWatch
I think the “free market” and “laissez faire” capitalists too often forget these points.
Capitalism is good for society when it creates competition to improve the products and services we use. It is bad for society when it is used solely to enrich itself.