Why competition may sometimes be harmful6 min read 23 May 2015, 11:35 PM IST
While marketplace competition is desirable, competition among governments is not always desirable
Is more competition always better? Most conventional economists would say yes. And, in the marketplace, that nugget of economists’ wisdom usually holds true. Every student of first-year economics is taught that competition is good for consumers, as it leads to lower prices and more choice; monopolies, in contrast, raise prices and limit choice.