ECONOMIC AFFAIRS Small business the casualty of misguided ‘competition’ policy*

Exponents of free market economics talk endlessly about competition, as if it were the driving force of capitalism. It isn’t. On the basis of their fundamental premise, anything less than unbridled price competition, resulting in a race to the bottom, will supposedly short-change consumers. Graeme Samuel AC A race to the bottom on price, however, will likely bring with it a drop in quality standards, and that becomes a self-serving process. The more competition impacts on price, t…

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