Competition drives innovation from "summary" of The Antitrust Paradox by Robert Bork
The concept that drives innovation is competition. It is a simple yet powerful idea that has been proven time and time again. When companies compete with each other, they are forced to come up with new and better ways to attract customers. This leads to innovation, as each company strives to outdo the other. In a competitive market, companies must constantly be looking for ways to improve their products and services in order to stay ahead of the competition. This drive to innovate is what pushes the economy forward and leads to advancements in technology, medicine, and other fields. Competition ...
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