Nature of Competition: The Creation Function
In the real life of economy, we create things and matters for the purpose of utilization. Using for the present, we name the thing or matter as “product.” Otherwise, we call it an “ asset .” Momentarily putting the demand side on hold, we conceive a mathematical function in account for the creative activities. In addition, we idealize away destructive activities no matter how creative they may be. In present-day economics as discipline of studying economy, however, we produce something only for the sake of consumption at present. Consequently, we have the so-called "production function." On the other hand, the future consumption and construction of assets therefor are out of question. We in economics can hardly find any theories on the asset, even if we are alive and (hopefully) well for so many more years until “we are all dead.” F...