Competition (was: Corporate transparency)

Russell Turpin
Wed, 09 Jan 2002 01:46:06 +0000

Owen Byrne:
>And is there really any capitalism left in the US? Isn't competition a 
>prerequisite to capitalism? ..

Competition has been both misunderstood and overstated. It's
not about head-to-head competition between multiple firms
making the same widget for the same market, and really never
has been. Rather, it's about the ability to continue to fit
a niche in a dynamic environment where niches are defined by
the other players. The same is true with ecology. "The lion
is the king of the beasts." But the lion does not frequently
battle bears or tigers or even hyenas. Rather, the lion is
very good at being a predator of herbivores on the savannah,
and as importantly, at surviving the parasites that inhabit
lions. And when the hyenas want the lion's kill, they don't
fight to the death. The lions simply chase off the hyenas,
unless the lion is alone and the hyenas are many, in which
case the lion also understands the limits of its niche.

Capitalism is a genetic algorithm in the truest sense. It
is more about evolution than optimization.

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