Lack of Competition and Widening Inequality Undermine Faith in Capitalism

Widening inequality and declining competition undermine support for capitalism. Restoring faith requires reform addressing distortions harming free markets.

Capitalism’s core promise is improving lives through innovation driven by competition. But this broad benefit has weakened recently.

As corporate consolidation marches on, a few mega firms dominate key industries. Lack of competition leads to high profits unchecked by rivals.

With less dynamism, productivity growth slows. Wages stagnate while prices rise. Wealth concentrates at the top as the middle class struggles.

These mounting burdens have eroded public backing for capitalism. Many now see an unfair system detached from their welfare.

Reigniting belief in free markets requires rebalancing their excesses. Competition policy and antitrust enforcement need rejuvenation to spread gains more evenly.

Capitalism remains the best system for uplifting living standards, but it depends on balanced oversight. Neglecting this stewardship role cedes ground to more radical interventions.

Saving capitalism from itself is imperative. With thoughtful reforms, faith in its core promise can be restored.