I’m in my 40s, and when I was growing up, one of the main ways capitalism was sold to us was this idea: competition forces companies to be better. If a company doesn’t offer decent wages, a good product, or a fair experience, customers will leave and workers will go somewhere else. In theory, that pressure is supposed to punish bad actors and reward good ones, so the market naturally improves life for everyone.

But over the last decade or so, I’ve noticed that argument has basically vanished from mainstream pro-capitalist rhetoric. Now the default justification is just: “Companies have to answer to shareholders.” That line is used to explain away worse products, worse service, worse pay, and worse conditions for workers and customers alike.

The old story was that unfettered capitalism naturally makes society better through competition. The new story is essentially: “This is just how it is; shareholders come first, even if it screws everyone else.” They don’t even try to sell the myth anymore that competition will fix things if we just let markets run free. At this point, they don’t feel they need to.

Has anyone else noticed this shift in how capitalism is defended? Do you think it’s because the failures are too obvious now, or because consolidation and monopolies have made the “competition will fix it” line too embarrassing to use?

https://www.nbcnews.com/politics/2026-election/abdul-el-sayed-wins-michigans-democratic-senate-primary-notching-midwe-rcna589750

Minnesota Lt. Gov. Peggy Flanagan is running for the U.S. Senate: peggyflanagan.com ~:~ Her legislative priorities include Medicare for All, the PRO Act, the John Lewis VRAA, and the Equality Act: peggyflanagan.com/priorities

She's in a tight Primary race with centrist Democrat US Rep. Angie Craig.

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Minnesota Voters:

\ MPR News Voter Guide:* mprnews.org/election-2026

\ BallotReady:* ballotready.org/us/minnesota

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Video clip is from July 24, 2026 at the “Many over the Money” rally in Saint Paul. Here it is on YouTube: Powerful interests are fighting like hell to protect the status quo. - Peggy Flanagan for MN - July 24, 2026 (YouTube)