Yesterday, I talked about how it is hard to reconcile two common beliefs of people: that increased competition is a bad thing, but also that too little competition is also a bad thing. It is not the case that all people dislike competition. Most obvious, we as customers should love competition in the markets where we purchase things. Better for me as a golfer to have 10 companies competing for my business than for one.
However, there are some situations where the competitors themselves actually prefer to have competition. Really! The most obvious example would be those involved in athletic competitions or other similar activities. So here is a question: what is it about these areas of our lives that make us, as competitors, like competition, but that does not spill over into the economic sphere?
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