Market competition boosts quality from "summary" of The Antitrust Paradox by Robert Bork
The market is a powerful force that drives companies to constantly improve their products and services to stay ahead of the competition. When businesses are forced to compete with one another for customers, they are motivated to innovate and enhance the quality of their offerings. This is because consumers have choices, and they will naturally gravitate towards products that offer the best value for their money. In a competitive market, companies cannot afford to become complacent or rest on their laurels. They must continuously strive to improve their products in order to attract and retain customers.
Competition also provides an incentive for companies to invest in research and development. In order to stay ahead of their rivals, businesses must ...
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