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Unformatted text preview: b) bribing officials c)stealing resources 3. smith feels that competition gives automatic self-corrective force and replaces the need for governmental involvement. 4. if competition fails need governmental involvement, hence the antitrust laws to reverse anticompetitive outcome and eliminate anticompetitive practices. what is anticompetitive? we want competition to lead to better products or enhanced efficiency means of competition are just as important as the ends anticompetitive includes deliberate actiosn by firms to outperform the competition by harming competition rather than imporinvg their own products and services so, need rules and referees to define and enforce activities to remove the detriments to the benefits of competition....
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- Spring '08
- Capitalism, Competition law, personal wealth, force costly charges