What's so great about competition?

Companies make mistakes. Why? Because they consist of human beings. Some of them will make good decisions, some of them will make poor decisions. Some humans will make mistakes, because humans are imperfect. The solution to all of this mistake making that humans make is not to take it over by government or some other entity. The solution is to create an environment where competition is promoted. Why? Because, if a company or a human makes a mistake there is another human or company to replace him to make up for the mistake. So as a consumer, you have the choice to pick another product or company that does it your way. Without competition, you only have one choice and if that choice makes a mistake, we are all stuck with it.