3 ms·
> What percentage of the economy can be fully and truly competitive? You need to give us your definition of competitive. The grand parent already answered the
by rukittenme 7y ago
> What percentage of the economy can be fully and truly competitive?
You need to give us your definition of competitive. The grand parent already answered the examples you provided. The competing products being "essentially the same" does not detract from their competitiveness.
- mises 7y agoThis is especially true. In fact, a "perfect competition" actually specifies homogeneous goods. Technically, differentiation (i.e. no longer just powder in a cardboard box) is what enables all the screwiness being discussed.