there was no incentive to cut costs or innovate
Do you really believe that innovation can't be created for innovative purpose rather than competitive ones?
good workers have no incentive to work well, bad workers could relax.
Isn't it a bit cynical to think that we only try to do some productive things because of incentives? What if that was a fallacious thinking and that in reality, the value of work could be found without this incentive of productivity?
It can work in the sense that it gets heavily regulated. People's quality of life deteriorates as it gets unregulated for a reason.
Capitalism will always create exploitation.. and therefore oppression. It can't be another way.
