I think you're thinking of a Market Economy. https://en.wikipedia.org/wiki/Market_economy https://en.wikipedia.org/wiki/Market_economy Capitalism is about the

I think you're thinking of a Market Economy. https://en.wikipedia.org/wiki/Market_economy https://en.wikipedia.org/wiki/Market_economy Capitalism is about the private ownership of the means of production and profits. But yeah, competition for labor (and other things) via differences in wages are attributes of a market economy. Capitalism can be a healthy part of this, but sometimes it isn't. Crony capitalism for instance can provide companies the opportunity to collude so they can artificially suppress wages, which distorts the market economy for labor. https://en.wikipedia.org/wiki/High-Tech_Employee_Antitrust_Litigation https://en.wikipedia.org/wiki/High-Tech_Employee_Antitrust_L...