Nature of Competition: The Price as Baton
In modern times as opposed to the hunter-gatherer age among other ears, we live in a community where trade is a matter of everyday life. There in the community are various marts and marketplaces, respectively open for indefinitely many kinds of goods and services. Take the apple for example out of so many products on the shelves. In practice, each household goes to a mart of choice and purchases the apple at a price specific therein. On the flipside, the choice of neither the mart nor the price at the chosen is arbitrary: either is the best choice of the week made after voluntary thinking at the margin, which in turn is with all things taken into account. Milton Friedman would say, “ Free to Choose .” At any rate, all choices must be under the rule of law : freedom comes at the cost of building the right context of competition; or "no liberty without law." ...