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Competition tempers greed by offering consumers choices about where to buy. If one seller raises prices, consumers will switch to relatively cheaper alternatives. Markets temper greed by encouraging people to cooperate to earn money. John uses the example of a steak getting to New York through the cooperation of thousands of people. Although each person is really only looking out for his or her own paycheck, they must work together in order to actually earn their pay.
SEGMENT 2 / POM DVD