The term is monopolistic competition. If you can extract monopoly-like power by not being the only company, but simply the best one, or the one that most closel

The term is monopolistic competition. If you can extract monopoly-like power by not being the only company, but simply the best one, or the one that most closely fits your customers' needs, then you can afford to treat your people well and do right by the community. It's only when you're doing the exact same thing as everyone else that you have to join the race to the bottom. It gets complicated when competitors start trying to do the things that you do, and that's what prevents you from getting lazy. Monopolistic competitors can never just do the same thing they've always done because points of differentiation can disappear practically overnight. But what they do have is a head start, and if they continue to innovate, they can maintain their lead over other players. An important factor for innovation is attracting and keeping top talent, and you don't get that by treating your employees badly, or being viewed by the public as "evil."