Why Competition Alone Is Not Enough

Free marketers view competition as the solution to most if not all problems in the market. If a business is charging too high a price or selling poor quality products then a new business can simply enter the market and take its place. If workers are mistreated or underpaid, then there will be an incentive for competitors to offer better conditions. Competition will cure all problems, prevent excessive profits, exploitative wages, protect the environment, increase your IQ and make you ten years younger (you may think I’m being facetious, but I have yet to come across a problem that libertarians haven’t claimed competition would solve). Continue reading “Why Competition Alone Is Not Enough”

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