[jpttsn]

I’d view “buying competitors” as a sign of “competing”.

Otherwise, in the Middle Ages, “European kingdoms don’t fight wars, they just conquer one another”

[osmarks]

Possibly, but it's not the sort of competition which leads to more choice and better outcomes for consumers.

[jpttsn]

Maybe, maybe not. Consumers would be analogous to consumers of kingdoms, so it all sort of falls apart.

Anyway, if the competition is not an ends unto itself it would seem a more direct argument can be made.

[lanstin]

The math showing free market equilibrium being the most prosperous depends on a large number of entities on both the selling and the buying end.

[minusf]

i can think of a couple of sad examples where buyout resulted in drop of quality or even dying off. it's often used to kill competition and not the other way.