The first part of the title is actually not a lie. Capitalism with vigorous or even extreme competition is quite a nice mode of development. It’s definitely great for consumers, offers great customer service, low prices and ferocious innovation and improvement of products. The attitude of a system with vigorous competition is not only the customer is always right but also adds to that I need to treat my customers better than my competitors.
So where’s the problem then? The problem is because the competition usually doesn’t last. As Marx noted and has been proven immaculately correct, capitalism tends towards monopoly over time as surely as day follows night. Vigorous competition is soon replaced by monopoly capitalism and Monopoly Capitalism is probably one of the worst modes of development known to mankind.
Every anti-monopoly business being harmed by a monopoly will turn pro-monopoly as soon as they get their own monopoly. And all businesses wish to be a monopoly. They all hate competition. There’s nothing a capitalist hates more than competition, which is part of the joke of capitalism, which sings the (granted, considerable) praises of robust competition, while all of the capitalists despise this very robust competition being crowed about.
Politicians and media outlets all claim to be pro-competition but they are all also pro-monopoly. The politicians are pro-monopoly because they are all whores for big business and are frankly taking open bribes from them. The media is pro-monopoly because the media only prints what its corporate advertisers want to hear (a pro-monopoly message) and also because most media outlets, as capitalists, of course long to be monopolies themselves. The fact that capitalists and their supporters rant and rave about how great capitalism is due to competition despite the fact that business and its paid propagandists all hate such competition is one of the worst lies of all of the capitalists.