These are the trade restricting
arrangements: monopolies, cartels, trusts and other illegal
organizations. Rivers of inks were spilled over forests of paper to
explain the pernicious effects of these anti-competitive practices
(see: "Competition Laws"). The short and the long of it is that
competition enhances and increases efficiency and that, therefore,
anything that restricts competition, weakens and lessens efficiency.
What could anyone do about these inefficiencies? The world goes in
circles of increasing and decreasing free marketry. The globe was a
more open, competitive and, in certain respects, efficient place at the
beginning of the 20th century than it is now. Capital flowed more
freely and so did labour. Foreign Direct Investment was bigger. The
more efficient, "friction free" the dissemination of information (the
ultimate resource) - the less waste and the smaller the lebensraum for
parasites. The more adherence to market, price driven, open auction
based, meritocratic mechanisms - the less middlemen, speculators,
bribers, monopolies, cartels and trusts.
The less political involvement in the workings of the market and, in
general, in what consenting adults conspire to do that is not harmful
to others - the more efficient and flowing the economic ambience is
likely to become.
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