Effective Market
Competition Requires Tight Regulation
Competition
is a method of comparing two or more contenders to see which is better
in one or more specific qualities. To
realize this ranking of qualities, the contest must isolate the
qualities and provide fair competition. For
example: the 100 meter dash compares running speed, a football game
compares athleticism, management and team work, and a beauty pageant
compares personal presentation and personality. In
each of these examples, there are strict rules and regulations to
isolate the competing qualities.
Runners
must start at the same time, have equal length of track and have equal
track environments, football players must follow rules administered by
referees, and beauty contest must follow all pageant guidelines. Without the enforcement of such regulations,
contestants may “cheat” by using qualities that are undesirable and
even antithetical to the contest goals. Thus without tight regulation,
competition is not effective at discovering which contender has the
desired qualities.
If we
accept that a most important function of the commercial free-market is
to promote competition of goods and services so that those products
with the best consumer value come out on top, then we must also accept
that market regulation is a necessity.
If we
accept that our system of capitalism should serve the interests and
needs of all private citizens, and not just an elite class of owners,
then it can be proved that commercial marketing promotions are an
unnecessary element of our system. In theory and in practice,
capitalism does not require promotional marketing to sustain effective
commerce, and in effect, the competitive market system is corrupted by
the irrational messages that are the staple of contemporary commercial
promotions.
Commercial
marketers do not want consumers to be critical of their product or
service, they just want consumers to buy it.
Source:
Goods and Services
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return Greed
Profit Consumerism
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