I don’t think this is due to competition alone, though it certainly played a role. The real estate bubble that lead to the financial crisis had multiple causes which combined into a perfect storm.
Clearly competition is essential for a healthy economy. Clearly people tend to be competitive. Clearly unfettered competition leads to some pretty ugly outcomes (Marxism took hold as a response to that). Also as clearly, a categorical pronouncement “competition is toxic” is a poor title for anything posted on a site devoted to rationality.
Not going to read your link, given its loaded title.
I don’t think this is due to competition alone, though it certainly played a role. The real estate bubble that lead to the financial crisis had multiple causes which combined into a perfect storm.
Clearly competition is essential for a healthy economy. Clearly people tend to be competitive. Clearly unfettered competition leads to some pretty ugly outcomes (Marxism took hold as a response to that). Also as clearly, a categorical pronouncement “competition is toxic” is a poor title for anything posted on a site devoted to rationality.
Not going to read your link, given its loaded title.