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Rehabilitating "Competition"

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First published at 15:39 UTC on June 20th, 2021.

#economics
#competition

The Marginal Non-Hermit

Marginal Non-Hermit

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The word "competition" gets thrown around a lot, and anti-market people get a huge benefit from the fact that competition, in plain English, encompasses many more things than it does in economic theory. This difference in definition allows socialists and authoritarians to include all kinds of nasty behavior when they refer to competition, when in economic theory the effects of competition are voluntary and almost entirely positive. So here is my attempt to differentiate between the two and improve the reputation of economic competition.

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