Fair competition: The engine of economic development
This paper questions the existing notion of competition prevalent in economic theory. It is shown that the prevalent idea of competition is incompatible with economic development. Fair competition, this paper argues, ought to be understood in context. The paper ends by providing some preliminary suggestions to economists and policy makers on how to understand competition.
|Date of creation:||2011|
|Date of revision:|
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- Paul J. McNulty, 1968. "Economic Theory and the Meaning of Competition," The Quarterly Journal of Economics, Oxford University Press, vol. 82(4), pages 639-656.
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