Does competition really exist?

Lars Syll’s post says that state intervention interferes with the market and as a result competition does not necessarily eliminate bad bosses (quoting banks as an example – without state intervention after the 2008 crisis, many banks would not exist and their bosses would no longer be employed).

But surely this is the same as saying that competition does not really exist.  State intervention has rigged the system!

But what of the argument that competition eventually eliminates bad bosses? True, it does sometimes; the relatively egalitarian John Lewis Partnership has done better than department stores such as…

Source: Does competition really eliminate bad bosses? | LARS P. SYLL

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The reality of how money is created | LARS P. SYLL

A great article backed up with a challenging image

Everything we know is not just wrong – it’s backwards. When banks make loans, they create money. This is because money is really just an IOU. The role of the central bank is to preside over a legal order that effectively grants banks the exclusive right to create IOUs of a certain kind, ones that the government will recognise as legal tender by its willingness to accept them in payment of taxes.

Source: The reality of how money is created | LARS P. SYLL