Firn
Well-known member
Not at all, that IS a problem with a free market.That is not a problem of the free market or capitalism. That is a problem with the manufacturer not marketing the product properly. A better widget with proper marketing will always win in the end. What needs to be done is get the government out of picking winners and losers such as what is happening now. Obviously, there needs to be regulation to control corruption and greed too.
It's not a manufacturing of a better widget. It'd that the existing widget has had ten, twenty, fifty years to drive the cost down. The new widget can't enter the market, the existing product is cheaper. The new product can't get cheaper, you need to sell it for five, ten years till you can optimize.
Nothing starts fully optimized. That IS what the free market does, that's why we like it, competing products drive optimization. However that doesn't happen overnight, it takes a while.
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