Competition

"The word competition has been thus defined by a French lexicographer: 'The aspiration of two or more persons to the same office, dignity or any other advantage.' This is, indeed, in harmony with its etymological meaning. Two or more individuals aspire at the same time to the same position, to the same dignity, to the same advantage, no matter what; they vie with each other to obtain it; there...

"The Prime Minister has announced that it is time we had more competitive sport at school, choosing the Olympic closing ceremony as a good moment to repudiate the received opinion that left-wing administrations are hostile to the divisive business of saying one child has done better than another. The Government had now begun to "correct the tragic mistake of reducing the competitive element in...

These remarks were written upon the retirement of Israel M. Kirzner, a prominent Austrian economist. Ebeling describes Kirzner's life and his contribution to economics, particularly in the area of entrepreneurship. Ebeling then goes on to elaborate about Kirzner's influence on the study of entrepreneurship, noting that, "In Israel Kirzner’s view, one of the most important reasons for open,...

"The label 'competitive' frequently calls forth visual images of children who not only expect to win all the time, but don’t deal well with losing. Examples of competitiveness shared with me often include relentless arguments with teachers about extra points on test grades, cheating to get good grades or win at sports, losing tempers or pouting at times of defeat, obnoxious bragging about...

"It is disturbingly easy for arguments originally employed on behalf of the free market to be turned against it. In this article I hope to redeem the concept of competition, which perhaps more than any other has been corrupted into the service of the state.

Rather than being seen as a peaceful, cooperative, and ordered network, the free market is maligned as a brutal Darwinian struggle...

"Would large-scale, free-market reforms improve educational outcomes for American children? This question cannot be reliably answered by looking exclusively at domestic evidence, much less by looking exclusively at existing 'school choice' programs. Though many such programs have been implemented around the United States, none has created a truly free and competitive education marketplace,...

"It would not be easy to defend macroeconomists against the charge that for 40 or 50 years they have investigated competition primarily under assumptions which, if they were actually true, would make competition completely useless and uninteresting. If anyone actually knew everything that economic theory designated as “data,” competition would indeed be a highly wasteful method of securing...

"The Austrian tradition is represented in modern economics by a 'very vocal, feisty and dedicated subset of the economic profession'... Much of the work of this group is devote to the most fundamental problems of micro-economics. This Austrian work, therefore, differs in character an content from a good deal of neoclassical theory which, despite widespread and growing awareness of its...

"Hayek's economics is focused upon adaptation: the continuously changing social order requires no conscious direction. That evolutionary thesis applies even to itself; no one can remain intellectually active throughout a long life without the adaptation of concepts or conclusions. If complete reversals are rare, reconsideration and refinement of notions previouslyheld are normal. And while...

"We present a model of tax competition for real investment and profits and show that the presence of tax havens in some cases increases the tax revenue of countries. In the first part of the paper,we argue that tax competition for profits is likely to be imperfect in the sense that the jurisdiction with the lowest tax rate does not necessarily attract all shifted profits. Under this assumption...

This piece suggests that a better way to deal with teacher union problems would be to introduce competition into the teacher union market. As Lieberman continually notes, teachers unions are currently monopolized by the NEA and the AFT. This situation has allowed these two organizations to raise teacher dues and effectively combat any opposing ideologies that might...

"A monopoly is an enterprise that is the only seller of a good or service. In the absence of government intervention, a monopoly is free to set any price it chooses and will usually set the price that yields the largest possible profit. Just being a monopoly need not make an enterprise more profitable than other enterprises that face competition: the market may be so small that it barely...

"Following the repeated failure in the United States of numerous federal tax credit and voucher proposals for education in the recent past, the retiring President Reagan and his successor President Bush announced in January 1989 their enthusiastic support for an alternative reform that seems to them to promise more political success. It is know as 'the open enrollment plan.'

For many...

"The doctrine of 'pure and perfect competition' is a central element both in contemporary economic theory and in the practice of the Anti-Trust Division of the Department of Justice. 'Pure and perfect competition' is the standard by which contemporary economic theorists and Justice Department lawyers decide whether an industry is 'competitive' or 'monopolistic,' and what to do about it if they...

"Sport builds character. Mens sana in corpore sano. Physical, mental, and moral health go together. These are foundational beliefs in modern society. For example, they undergird the European Union’s nomination of 2004 as the 'Year of Education through Sport,' an intensification of the Union’s decades-long 'sports for all' policy. Vivian Reding, European Commissioner for Education and Culture,...

“Privatization means shifting some or all aspects of service delivery from government to private-sector providers. It is a strategy to lower the costs of government and achieve higher performance and better outcomes for tax dollars spent. ...

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"This study provides a powerful demonstration of the real world impact of increasedcompetition. By presenting six market case studies drawn from a variety of sectors itgives evidence of the type and magnitude of the benefits following marketinterventions to develop competition and free up the operation of these sectors.

In discussing the types and form such interventions take, whether...

"The political air is now filled with proposals, of which President Reagan's 'New Federalism' is only the most dramatic, to turn various activities of the federal government over, or back, to the states. Among those activities is regulation: environmental regulation in particular, but other sorts as well.

Critics of these proposals often object that the states, in order to keep or...

"We study the effect of market structure on a personal computer manufacturer’s decision to adopt new technology. This industry is unusual because there exist two horizontally segmented retail markets with different degrees of competition: the IBM-compatible (or PC) platform and the Apple platform. We first document that, relative to Apple, producers of PCs typically have more frequent...

"Competition among scientists for funding, positions and prestige, among other things, is often seen as a salutary driving force in U.S. science. Its effects on scientists, their work and their relationships are seldom considered. Focus-group discussions with 51 mid- and early-career scientists, on which this study is based, reveal a dark side of competition in science. According to these...

"This panel will assess American federalism as a competitive institution that offers a marketplace of state regulatory regimes. With the recession impacting some states more heavily than others, it is time to ask whether interstate competition is good for the nation. Should state-by-state approaches to issues such as healthcare, financial regulation, environmental...

"Cato’s Isabel Santa uses school choice as an example of why competition is better than government-imposed monopolies. The video explains that government schools cost more and deliver less, which is exactly what one might expect when there is an inefficient monopoly structure. The evidence about the school-choice systems in Sweden, Chile, and the Netherlands is particularly impressive."

"Here’s a new mini-documentary from the Center for Freedom and Prosperity, narrated by Natasha Montague of Americans for Tax Reform, that explains why the process of tax competition is a critical constraint on the propensity of governments to over-tax and over-spend.

The...

"Federal, state and local agencies, universities, non-profit organizations, prison industries, and other government sponsored and supported entities engage in commercially available activities that result in unfair government competition with private enterprise. This adversely affects the U.S. economy by duplicating activities available from commercial providers, increasing the government...

"Frédéric Bastiat has said that the Harmonies is a counterpart to Economic Sophisms, and, while the latter pulls down, the Harmonies builds up. Charles Gide and Charles Rist in a standard treatise, A History of Economic Doctrines, have referred to 'the beautiful unity of conception of the Harmonies,' and added, 'we are by no means certain that the...

"If you are looking to acquaint yourself with F.A. Hayek's perspective on economic theory--beyond his business cycle and monetary studies of the interwar years--this is the best source. The collection appeared in 1947, before he moved on toward broader cultural and social investigations. It contains his most profound work on the liberal economic order, and his most penetrating reflections on...

"The 1996 Telecommunications Act was an attempt to increase competition among telecommunications providers in the United States by reducing regulatory barriers to market entry. This competition was expected to drive innovation in the telecommunications sector and reap economic benefits for both American consumers and telecommunications providers. The legislation, however, had a markedly...

"This is the first book to provide a systematic treatment of the economics of antitrust (or competition policy) in a global context. It draws on the literature of industrial organisation and on original analyses to deal with such important issues as cartels, joint-ventures, mergers, vertical contracts, predatory pricing, exclusionary practices, and price discrimination, and to formulate policy...

Martin traces the rise of college costs and compares them with inflation rates and the growth of costs in other industries besides education. He suggests that some of the problems of high college costs are related to the lax standards amongst the faculty, leadership, and administration of college campuses, and their willingness to accept government subsidies and other easily obtained financial...

"No Contest stands as the definitive critique of competition. Contrary to accepted wisdom, competition is not basic to human nature; it poisons our relationships and holds us back from doing our best. In this new edition, Alfie Kohn argues that the race to win turns all of us into losers."

"The Library of Economics and Liberty is dedicated to advancing the study of economics, markets, and liberty. It offers a unique combination of resources for students, teachers, researchers, and aficionados of economic thought.

The website is provided by Liberty Fund, Inc., a...