Yes, this is what I was trying to explain. It isn’t printed right there in the dictionary because it isn’t the formal definition. It’s just how it ends up actually working.
There’s countless other examples too, where the formal definition and what it means in the real world don’t fully line up.
What other explanation would you have for the endless pursuit of growth if not capitalism? What other explanation would you have for larger companies pushing smaller ones out if not capitalism. I’m talking both the “why” but also the “how”? Consider the mechanisms of how a company such as Wal-mart can go into a small town and drive everyone else out of business. And then consider why they do it.
There’s the dictionary definition and the “how it plays out in the real world” definition. It isn’t defined as a system pushing for constant growth, but due to its competitive winner-take-all nature it becomes a matter of grow or die.
Increasing wealth inequality is a feature, not a bug, of capitalism.
I’m sure the people running businesses when Wal-mart came into their town and pushed them out have a better understanding than I do.
Those small local businesses may not be growth-driven, but they still have to compete against companies that are. And the odds are very often stacked against those small businesses, though some of them are able to successfully carve out a niche.