Friends and foes of the market alike refer to capitalism as a system of “competition.” Is that really its characteristic feature, and is that what distinguishes it from other systems? This is actually a misunderstanding, and one that probably turns plenty of people off to the market. What’s the right way to think about and explain it? That’s what Antony Sammeroff and I discuss in this episode.
“Capitalism is not ‘A System of Competition,'” by Antony Sammeroff
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