Competition and progressive industry

ABSTRACT COMPETITION in a general sense is easily denned, and the dictionaries are fairly clear and consistent in their meaning. In the strictly economic sense also there has hitherto been

little difficulty. The American economist Walker, for example, is very precise and definite in his description of the essential nature of competition. Competition, he says, signifies the

operation of individual self-interest among the buyers and sellers of any article in any market. It implies that each man is acting for himself solely, in exchange, to get the most he can

from others, and to give the least he must himself. Competition is opposed to combination in any form, to custom, and to sentiment, even though these, especially the two latter, in actual

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our FAQs * Contact customer support RIGHTS AND PERMISSIONS Reprints and permissions ABOUT THIS ARTICLE CITE THIS ARTICLE Competition and Progressive Industry. _Nature_ 123, 785–787 (1929).

https://doi.org/10.1038/123785a0 Download citation * Issue Date: 25 May 1929 * DOI: https://doi.org/10.1038/123785a0 SHARE THIS ARTICLE Anyone you share the following link with will be able

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