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Growing up I was told the major advantage of capitalism is that you get a diversity of offerings. This seems less and less true as time goes on, but maybe it wa
by BarryMilo 4y ago
Growing up I was told the major advantage of capitalism is that you get a diversity of offerings. This seems less and less true as time goes on, but maybe it was always an illusion.
- shmel 4y agoIt is only true when entry barriers to the market are low. Capitalism will give you a diversity of toasters or beer. Complex tech devices like phones have higher barriers, you can't just hack up a phone in a team of 5 people. Besides, economy of scale makes niche products more expensive.