It would be true. Except this only works in a genuinely free market. We’ve not had a really free market for a long time now. The people at the top are just not competing as would be required to make an open and free market work.
A genuinely free market would be even worse. We do have various protections in the US. If we had zero, companies would be dumping waste and giving everyone super-cancer. https://en.wikipedia.org/wiki/Swill_milk_scandal
Liberal economists will say this is perfectly fine. They’ll say The Market™ has decided and it’s never wrong.
It would be true. Except this only works in a genuinely free market. We’ve not had a really free market for a long time now. The people at the top are just not competing as would be required to make an open and free market work.
A genuinely free market would be even worse. We do have various protections in the US. If we had zero, companies would be dumping waste and giving everyone super-cancer. https://en.wikipedia.org/wiki/Swill_milk_scandal