Term Definition
Competition

Aleksandar Lahtov

Liberal is committed to a market economy and competition is a defining feature thereof. When we talk about the liberalisation of markets we are talking about promoting competition as a means creating a more prosperous society. Competition may be seen as a liberal value. It requires that an equal playing field exists for all market participants to buy and sell products and to develop and implement ideas and strategies to maximise their respective returns. Competition is also a very important tool in combating the formation of monopolies whose primary goal is to prevent participants from challenging the dominant position of a particular player or group of players – hence the important of “competition policy”.

Compiled and edited by Dr. Stefan Melnik, a senior advisor to the Friedrich Naumann Foundation as well as political communication trainer, editor and author of many books on liberalism. Names of outside contributors are respectively mentioned under the terms.

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