the trick here is to define what competition existed in real life capitalism compared to capitalism in theory. Capitalism in theory is when the capitalist class need to benefit the society as a whole to gain profit and avoid retaliation from stakeholders. Capitalism in practice is government intervention to concentrate market power to a few free riding elites who use the market power to dictate punishment and reward of people according to their servitute to the free riders through the coercive ban on voluntary mass strike, peaceful protests, and worker's union that were not infiltrated. As the water monopoly in Cochabamba in Bolivia showed about the constant redefinition tactic by liberals, the US also define monopoly by foreign private firm as capitalists in contradiction to their claim that capitalism need market competition.
the trick here is to define what competition existed in real life capitalism compared to capitalism in theory. Capitalism in theory is when the capitalist class need to benefit the society as a whole to gain profit and avoid retaliation from stakeholders. Capitalism in practice is government intervention to concentrate market power to a few free riding elites who use the market power to dictate punishment and reward of people according to their servitute to the free riders through the coercive ban on voluntary mass strike, peaceful protests, and worker's union that were not infiltrated. As the water monopoly in Cochabamba in Bolivia showed about the constant redefinition tactic by liberals, the US also define monopoly by foreign private firm as capitalists in contradiction to their claim that capitalism need market competition.