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Old 02-25-2012, 11:50 PM
Unit Unit is offline
Join Date: Aug 2008
Posts: 1,713
Default Re: What's competition?

Originally Posted by handle View Post
I see, just like the "positive thinking" movement, when the practice fails, it is because the practitioner didn't follow the practice closely, or doggedly enough.
Never heard of that movement. Practice fails if it's practiced. Politicians have other agendas, we know that. I'm sure the current administration has let down some of your ideals as well.

That aside, the idea that competition reveals what a free market will bear, you shouldn't need Hayek or anyone else to do that, as you have pointed out. But that's just the teaser to get one to buy into much more of the ideology, isn't it?
Yes in fact. I believe in my ideology more than the alternative and Hayek's point is quite important. For instance it goes against the so-called "equilibrium" point-of-view in economics, and the notion of "perfect knowledge", etc... What was striking to me though was that here were two supposedly "conservative", "free-market", pundits associating free-market competition with "the rat race", namely the worse of all common stereotypes. Competition happens to be a concept of fundamental importance. At the theoretical level there are competing models and interpretations of competition. One of these point-of-views was advanced by Hayek and that's the one I believe is more insightful. Did you read the article?
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