Competition as a Dynamic Process

Abstract

What is effective competition? Is it an abstract ideal concept, or an actual dynamic process which grows or wanes as a result of marketing and policy decisions made by businessmen and their firms? Here, in a penetrating review of a significant new book, J. M. Clark's “Competition as a Dynamic Process,” the thought is advanced that business practice, not antitrust laws or court decisions, is the real force which defines genuine competition and its—and the public interest's—old enemy, monopoly.