Does competition really exist?

Lars Syll’s post says that state intervention interferes with the market and as a result competition does not necessarily eliminate bad bosses (quoting banks as an example – without state intervention after the 2008 crisis, many banks would not exist and their bosses would no longer be employed).

But surely this is the same as saying that competition does not really exist.  State intervention has rigged the system!

But what of the argument that competition eventually eliminates bad bosses? True, it does sometimes; the relatively egalitarian John Lewis Partnership has done better than department stores such as…

Source: Does competition really eliminate bad bosses? | LARS P. SYLL

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