And now American private equities are buying all the hospital chains in India… Now they’re exporting innovation abroad too
Can we stop min /max for profit and start min/max for kindness
It’s not so much capitalism that breeds innovation, but competition. If there’s no competition, where’s the incentive for companies to innovate or improve in any way?
Take the private water companies in the UK as an example. You can’t choose a different provider, and the service they provide has been getting steadily worse over the years, to the point where they don’t improve infrastructure and we end up with Victorian pipelines pumping sewage into our rivers and seas. But nobody can change provider unless you move to a different part of the country, so there’s no incentive for the companies to improve anything.
If there’s no competition, where’s the incentive for companies to innovate or improve in any way?
What if instead of competing we were cooperating towards a shared goal?
The one problem with that is a thing called human nature.
Humans famously incapable of working in large numbers towards a common goal.
New government regulation causes companies to adapt or die, so I guess the post is right, competition against the government breeds innovation.
That is how capitalism breeds innovation.
Thank you for transcribing the image
