Competition is supposed to be helpful in regulating markets to give the consumer the best value, price, and quality. Does it? It sure doesn’t seem like it to me. Here I suggest it’s up to US (like so many things) to regulate economies by purchasing quality items and not fall for the aggressive marketing I talked about in Episode 5: Marketing and Solicitation.
In ecology, competition leads to speciation and biodiversity through darwinian mechanisms.
In sports, competition *should* encourage competitors to improve. But what I see is a too much emphasis being placed on winning.
In free markets, competition *should* encourage companies to produce the highest quality products for the lowest cost (best value). But what I see is a race to the bottom where products are shoddy at best or don’t deliver what the advertising (Episode 5) claims.
Is competition the holy grail we claim it to be?