Competition is conducive to the continuous improvements of industrial efficiency. It leads…producers to eliminate wastes and cut costs so that they may undersell others…. It weeds out those whose costs remain high and thus operates to concentrate production in the hands of those whose costs are low.
- Clair Wilcox
Competition and Monopoly in American Industry, Monograph no. 21, 1940.
The fundamental impulse that sets the capitalist engine in motion comes from the new consumer's goods, the new methods of production or transportation, and new markets, and the new forms of industrial organization that capitalist enterprise creates.
- Joseph A. Schumpeter
(Capitalism, Socialism, and Democracy, 1950), p. 83.
« Previous | Home | Next »
