Read Peter Thiel. The perfect capitalism of frictionless competition and complete transparency is the enemy of its own intent. In highly competitive and transparent markets, profits are driven asymptotically to zero. Groceries, gasoline, airline tickets... these are extremely low-margin industries.<p>Capitalism succeeds only when capitalism fails - when monopolies (global or local) appear that permit high-friction (and thus high profit) transactions. This can be old-school abusive monopolies that we regulate against, or it can be monopolies of craftsmanship - products so superior to the competition that they&#x27;re peerless.<p>At any rate, capitalism where everyone has similar information and resources works quite poorly.