Do Businesses have consumer interest in mind?
I was on the r/presidents subreddit the other day, and the question asked was about whether or not Clinton’s deregulation was a good or a bad thing(something along those lines anyway). One of the top comments was about businesses being trustworthy only in the fact that they care little about consumer’s interest. My response was that businesses need to consumer interest in order to make a profit, as if consumers aren’t interested then they wont buy the firms products, and if that happens, the firm goes out of business or is outcompeted. This was not a particularly popular comment, and generally was met with statements ranging from the view that there isn’t really any actual market competition and that most markets are overstated with cartels/monopolies, and that businesses simply don’t care about consumer interest.
My question here, then, is to ascertain whether or not businesses actually care about consumer interest, and to discern whether or not most markets are operating under monopoly or competition.