Quote:
Originally Posted by ossiblue
What you describe is not the Walmart model, it is the capitalism model. Unrestrained, theoretical capitalism seeks to achieve a monopoly by driving out competition, that is the ultimate goal. Think of the monopolistic empires built by Carnegie, Rockefeller, Vanderbilt, or more modern monopolies like AT&T (before the break up) and Microsoft. These companies didn't start out to be coercive or non-coercive monopolies, but each eventually used the tools of capitalism to achieve that end. It's good business.
China is simply doing the same, on a global scale, unrestrained, to a certain degree, because the checks on monopolistic abuses can only come from other nations' individual or collective trade regulations.
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In pure capitalism, as soon as Walmart raises prices the competitors come out of the woodwork to compete, resulting in balance and equilibrium.
Supply and demand.
A monopoly is not possible in true capitalism, it happens when the rules are broken or manipulated.