Earlier quoted context omitted.
Prisoner's dilemma, tragedy of the commons, etc. Local maxima. The best approach for the well-being of everybody is not always the most competitive approach. Your hypothetical co-operative company agrees to not testify and gets screwed over by the company that testifies against it. Capitalism selects for what works for certain individuals. We don't know that the success of capitalism isn't just a pyramid scheme that…
And the Romans and Chinese thought that they were at the End of History, as well. https://en.m.wikipedia.org/wiki/End_of_history
It’s one thing for me to personally think I’m at the end of history chilling in a coffee shop in SF, it’s quite another when I’ve got the finger on the nuclear codes.