> I always found this statement to be rather wishful. Individual lowering of prices makes sense if and only if your competitor is capable of saturating the market.
Like Walmart/Dollar Tree/Costco/Aldi/Target/Kroger/Amazon etc can (and have)?
And on a macro scale, like China can (and has)?
If anything it's incredible how competitive the market is. You can go into walmart, in the richest large country on earth by a significant margin, and buy pants for like $20. There are some heavily regulated industries where maybe we don't want this but in general companies competing to drive down prices is how most things work, and it works unbelievably well.