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What is capitalist competition?

Capitalist competition, despite all the derisive descriptions given it by critics–such as “vicious,” “cut-throat,” is in fact voluntary and peaceful. Indeed, it entails a significant degree of cooperation and coordination–among producers, suppliers and customers. This does not mean self-sacrifice. Capitalist competition is certainly vigorous.

What are the different types of capitalism?

Economists, historians, political economists, and sociologists have adopted different perspectives in their analyses of capitalism and have recognized various forms of it in practice. These include laissez-faire or free-market capitalism, anarcho-capitalism, state capitalism, and welfare capitalism.

What is the principle of competition in a capitalist system?

The principle of competition forces businesses to maximize efficiency and offer their products at the lowest prices the market will bear, lest they get put out of business by more efficient and better-priced competitors. Doing business with a particular company in a capitalist system is voluntary.

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