Competition drives technological development as each capitalist pursues ever-increasing efficiency and speed. They automate their factories to minimize the number of workers and to stay ahead of one another.

Smaller companies that can’t keep up are driven out of business or bought up by larger ones, forming monopolies in certain sectors. Four companies control 90% of the world’s grain production. Only 10-12 produce most semi-conductors. 10 produce most pharmaceuticals. These monopolies can control prices to counteract the falling rate of profit. So while the local hardware store is failing, large oil companies are making more money than ever.