Competiton-Is is Necessary

Tondaleria Marcus
Economics
November 13, 2003


Competition is the freedom to produce and the freedom to trade what one has produced for one’s own self interest, in the pursuit of one’s own happiness. Politically speaking, competition is a consequence of the political right to life, liberty, and the pursuit of happiness; especially when it is applied to the economic sphere of production and trade.
Competition among producers is not done out of service to consumers, which is the end result, but because of self-interest-the profit motive. This also results in a free market or free trade. Free market competition also assumes a social system that is based on individual rights and thes...