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Competition

FEBRUARY 22, 2013

Competition occurs when two or more individuals seek the same finite ends. Scarcity of resources makes competition for them inevitable. In a capitalist system where individuals own property and cannot resort to coercive means, individuals must produce and trade goods and services in order to achieve their ends. Competing producers attempt to provide consumers with the best products at the lowest price in order to earn profits. Competing consumers attempt to outbid one another for these goods and services. 

Paul Cwik - On Competition

 

Israel Kirzner - Entrepreneurship and the Market Process

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October 2014

Heavily-armed police and their supporters will tell you they need all those armored trucks and heavy guns. It's a dangerous job, not least because Americans have so many guns. But the numbers just don't support these claims: Policing is safer than ever--and it's safer than a lot of common jobs by comparison. Daniel Bier has the analysis. Plus, Iain Murray and Wendy McElroy look at how the Feds are recruiting more and more Americans to do their policework for them.
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