"well, then someone would pay their workers better and make more money, and those firms would come to dominate."
Not only would they, they do. Google, Apple, Facebook, Wall St etc pay people well, and are very profitable. However, paying more allows an employer to hire different workers.
Paying the same people more is completely different.
Not only would they, they do. Google, Apple, Facebook, Wall St etc pay people well, and are very profitable. However, paying more allows an employer to hire different workers.
Paying the same people more is completely different.