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What is the meaning of competition under capitalism?

April 26, 2017capitalism competition

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What is the meaning of competition under capitalism?

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Competition under capitalism, is simply the right to life, liberty and property applied to the sphere of production and trade; free competition means that one is free to take an any action, unmolested by others, which does not violate the rights of others. This is the meaning of competition. In observing what competition is, please observe what it is not. It is this free-competition that gives rise to capitalism’s free-market.