Part I
Is competition a good thing for the economy?
"Competition is a good thing; monopoly is not a good thing." This statement is generally not one hundred percent true for a market economy. The ideal competitive market economy in which supply and demand is in equilibrium and where consumer and companies have a benefit is not available often.
J.J. Laffont mentioned on the Annual World Bank conference 1998: "Competition is an unambiguously good thing in the first-best world of economists." …
