When we think of the word ‘capitalism’, many of us focus on the power of entrepreneurs, or capitalists (especially the big ones).

But many of us ignore the power of the consumers.

How did these big capitalists become so big the first place? Isn’t that because we, the consumers, collectively made the decision to buy goods and services from these big capitalists?

And why did we, the consumers, choose to buy from these big capitalists? Not because we like these big capitalists, but because these big capitalists provide us with high-quality goods and services (at low prices).

So, one day, if there’s a new player in the game, who can provide us goods and services at higher quality and lower prices, we, the consumers, will ditch the old big capitalists and turn towards the new player in a heartbeat.

This is why the capitalists need to always improve. This is why we hear news about layoffs. This is why we hears news about machines replacing people. This is why we hear news about each employee being constantly pressured to be ‘more productive’. The is why we hear news about companies ‘squeezing’ their suppliers.

It’s all because these capitalists want to please us, the consumers, so that we will be more willing to buy their goods and services.

Each of us collectively ‘holds the power' over the capitalists.

#economics #capitalism