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Freedom of Competition
If there is anything for which capitalism is more strongly denounced than its competition, it is its alleged lack of competition and tendencies toward monopoly. These denunciations stem in large part from a failure properly to understand the meaning of freedom of competition and of monopoly. The terms are usually understood in the light of the anarchic rather than of the rational concept of freedom. According to the rational concept of freedom, of course, freedom means the absence of the initiation of physical force - in particular, on the part of the government. Viewed in a positive light, freedom is the freedom to do whatever one is otherwise capable of doing, unconstrained by the initiation of physical force.
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see also:
  Adam Smith
  Division of Labor
  Economic Growth
  Economics and Natural Resources
  Economy of Learning and Motion
  Foundations of Economics
  Geographic Specialization of Economic Activities
  Governmental Monopoly
  Japanese Economics
  Keynesian Economics
  Marxist Economics
  Money, Gold and Inflation
  Monopolism
  Political Economy and State Security
  Procapitalist Economics
  The Role of Wealth




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