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Risto Rüütel: New religion – competition

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Who needs competition? Is it necessary for the undertakings to freely carry out their everyday commercial activities on the market (the absolute freedom of enterprise)? Or is competition something meant for the benefit of the end-consumers by ensuring higher quality and lower prices through properly functioning markets? Or is competition a tool for the government to fight "evil monopolies" and "too rich" companies? What is competition as such? Is it a cause or an effect or a means to an end? Should competition have an immediate effect on the consumer welfare or is competition something in itself, i.e. an idea or concept, which does not necessarily have to have a direct effect on end-consumers?

Published in Estonian language: Postimees 03.01.2013; full article available here

More info: Risto Rüütel