Competition is to "strive with" and combat is to "fight with." Competition leads to more excellent division of labor, were people ever more specialize for the benefit of consumers. Combat leads to destruction. In a boom and bust economy, the distorted market signals sent by currency and interest manipulation result in mis-allocation of resources and malinvestment, for which there is no adjustment except bankruptcy and re-purposing assets on what excess capacity is formed. In a free market there is rarely creative destructionism.
Saturday, October 9, 2010
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