Business leaders often praise the virtues of "free competition" in the marketplace, touting what they claim will bring lower prices and wider variety. The reality is that they don't really want competition at all. A totally free market enables them not only to dominate but to monopolize a market.
Economists believe in the virtues of competition and its value. Business leaders only say they do. But really, they want a monopoly ... for themselves.
What seems to work best is a combination of several economic systems: Monopolistic competition based on capitalism with social welfare practices.
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