Competitive Pricing Quotes

Chasing a man is not winning. The only thing you win is the loss of your dignity. Confidence is knowing your value, instead of expecting a man’s love to provide you with value.

consumers tend to be more price sensitive if they are purchasing products that are undifferentiated, expensive relative to their incomes, or of a sort where quality is not particularly important to them.

Competition on dimensions other than price - on product features, support services, delivery time, or brand image, for instance - is less likely to erode profitability because it improves customer value and can support higher prices. p.32

All conservative ideologies justify existing inequities as the natural order of things, inevitable outcomes of human nature. If the very rich are naturally so much more capable than the rest of us, why must they be provided with so many artificial privileges under the law, so many bailouts, subsidies and other special considerations - at our expense? Their "naturally superior talents" include unprincipled and illegal subterfuge such as price-fixing, stock manipulation, insider training, fraud, tax evasion, the legal enforcement of unfair competition, ecological spoliation, harmful products and unsafe work conditions. One might expect naturally superior people not to act in such rapacious and venal ways. Differences in talent and capacity as might exist between individuals do not excuse the crimes and injustices that are endemic to the corporate business system.

A man can be as great as he wants to be. If you believe in yourself and have the courage, the determination, the dedication, the competitive drive and if you are willing to sacrifice the little things in life and pay the price for the things that are worthwhile, it can be done.

Any attempt to solve the ecological crisis within a bourgeois framework must be dismissed as chimerical. Capitalism is inherently anti-ecological. Competition and accumulation constitute its very law of life, a law … summarised in the phrase, ‘production for the sake of production.’ Anything, however hallowed or rare, ‘has its price’ and is fair game for the marketplace. In a society of this kind, nature is necessarily treated as a mere resource to be plundered and exploited. The destruction of the natural world, far being the result of mere hubristic blunders, follows inexorably from the very logic of capitalist production.

Anxiety has a purpose. Originally the purpose was to protect the existence of the caveman from wild beasts and savage neighbors. Nowadays the ocassions for anxiety are very different - we are afraid of losing out in the competition, feeling unwanted, isolated, and ostracized. But the purpose of anxiety is still to protect us from dangers that threaten the same things: our existence or values that we identify with our existence. This normal anxiety of life cannot be avoided except at the price of apathy or the numbing of one's sensibilities and imagination.

Football is a great deal like life in that it teaches that work, sacrifice, perseverance, competitive drive, selflessness and respect for authority is the price that each and every one of us must pay to achieve any goal that is worthwhile.

If low price is the only basis of competition with rival products, similarly produced, there ensues a cut-throat competition which can end only by taking all the profit and incentive out of the industry. The logical way out of this dilemma is for the manufacturer to develop some sales appeal other than mere cheapness, to give the product, in the public mind, some other attraction, some idea that will modify the product slightly, some element of originality that will distinguish it from products in the same line. Thus,

Demand for a product is affected by the cost and quality, broadly defined, of substitute products. If the cost of a substitute falls in relative terms, or if its ability improves to satisfy the buyer’s needs, industry growth will be adversely affected (and vice versa). Examples are the inroads that television and radio have made on the demand for live concerts by symphony orchestras and other performing groups; the growth in demand for magazine advertising space as television advertising rates climb sharply and prime advertising television time becomes increasingly scarce; and the depressing effect of rising prices on the demand of such products as chocolate candy and soft drinks relative to their substitutes.

Universal competition, or the effort to always produce more, and always at a lower price... has been a dangerous system.

there is still a kind of unique loneliness to child rearing for women. We so often do it in isolation. Add to the fact that in our competitive, perfectionist culture, in which the price woman are required to pay for freedom still seems to be martyrdom, almost everyone lies about motherhood. Part of that lying is loyalty - I can't let on that my kid is the only one on the playground who can't read or play the piano - and part of it is self-protection, since we've made hyper-motherhood a measure of female success. The preferred answer to the question "How are you?" is always "Fine," and the answer to the question "How are the kids?" is supposed to be "Great!" That's true even if the accurate answers would be "terrible" and "a mess." I think it produces its own kind of desperation, especially for women, who yearn to be emotionally open.

To sum up: the more productive capital grows, the more it extends the division of labour and the application of machinery; the more the division of labour and the application of machinery extend, the more does competition extend among the workers, the more do their wages shrink together.

The distinguishing feature of advanced industrial society is its effective suffocation of those needs which demand liberation—liberation also from that which is tolerable and rewarding and comfortable—while it sustains and absolves the destructive power and repressive function of the affluent society. Here, the social controls exact the overwhelming need for the production and consumption of waste; the need for stupefying work where it is no longer a real necessity; the need for modes of relaxation which soothe and prolong this stupefication; the need for maintaining such deceptive liberties as free competition at administered prices, a free press which censors itself, free choice between brands and gadgets.

Companies should understand their cost structure to make informed decisions, optimize operations, and enhance profitability. This knowledge enables them to identify areas for cost reduction, pricing strategies, and resource allocation, ultimately contributing to financial sustainability and competitiveness.

Your personality is your natural weapon against distraction, competition, and commoditization. The more value you add, the less you have to compete on price, and the less likely you are to become a commodity.

In neo-classical economic theory, it is claimed without evidence that people are basically self-seeking, that they want above all the satisfaction of their material desires: what economists call "maximising utility". The ultimate objective of mankind is economic growth, and that is maximized only through raw, and lightly regulated, competition. If the rewards of this system are spread unevenly, that is a necessary price. Others on the planet are to be regarded as either customers, competitors or factors of production. Effects upon the planet itself are mere "externalities" to the model, with no reckoning of the cost - at least for now. Nowhere in this analysis appears factors such as human cooperation, love, trust, compassion or hatred, curiosity or beauty. Nowhere appears the concept of meaning. What cannot be measured is ignored. But the trouble is that once our basic needs for shelter and food have been met, these factors may be the most important of all.

Competition permits the capitalist to deduct from the price of labour power that which the family earns from its own little garden or field; the workers are compelled to accept any piece wages offered to them, because otherwise they would get nothing at all, and they could not live from the products of their small-scale agriculture alone, and because, on the other hand, it is just this agriculture and landownership which chains them to the spot and prevents them from looking around for other employment.

A monopoly granted either to an individual or to a trading company, has the same effect as a secret in trade or manufactures. The monopolists, by keeping the market constantly understocked by never fully supplying the effectual demand, sell their commodities much above the natural price, and raise their emoluments, whether they consist in wages or profit, greatly above their natural rate. The price of monopoly is upon every occasion the highest which can be got. The natural price, or the price of free competition, on the contrary, is the lowest which can be taken, not upon every occasion indeed, but for any considerable time together. The

I watched with incredulity as businessmen ran to the government in every crisis, whining for handouts or protection from the very competition that has made this system so productive. I saw Texas ranchers, hit by drought, demanding government-guaranteed loans; giant milk cooperatives lobbying for higher price supports; major airlines fighting deregulation to preserve their monopoly status; giant companies like Lockheed seeking federal assistance to rescue them from sheer inefficiency; bankers, like David Rockefeller, demanding government bailouts to protect them from their ill-conceived investments; network executives, like William Paley of CBS, fighting to preserve regulatory restrictions and to block the emergence of competitive cable and pay TV. And always, such gentlemen proclaimed their devotion to free enterprise and their opposition to the arbitrary intervention into our economic life by the state. Except, of course, for their own case, which was always unique and which was justified by their immense concern for the public interest.

Morgan then formed the U.S. Steel Corporation, combining Carnegie’s corporation with others. He sold stocks and bonds for $1,300,000,000 (about 400 million more than the combined worth of the companies) and took a fee of 150 million for arranging the consolidation. How could dividends be paid to all those stockholders and bondholders? By making sure Congress passed tariffs keeping out foreign steel; by closing off competition and maintaining the price at $28 a ton; and by working 200,000 men twelve hours a day for wages that barely kept their families alive. And so it went, in industry after industry—shrewd, efficient businessmen building empires, choking out competition, maintaining high prices, keeping wages low, using government subsidies. These industries were the first beneficiaries of the “welfare state.

There is a belief, current in many countries, which has been elevated to the rank of an official article of faith in the United States, that free competition is itself a homeostatic process: that in a free market the individual selfishness of the bargainers, each seeking to sell as high and buy as low as possible, will result in the end in a stable dynamics of prices, and with redound to the greatest common good. This is associated with the very comforting view that the individual entrepreneur, in seeking to forward his own interest, is in some manner a public benefactor and has thus earned the great rewards with which society has showered him. Unfortunately, the evidence, such as it is, is against this simpleminded theory. The market is a game, which has indeed received a simulacrum in the family game of Monopoly. It is thus strictly subject to the general theory of games, developed by von Neumann and Morgenstern. This theory is based on the assumption that each player, at every stage, in view of the information then available to him, plays in accordance with a completely intelligent policy, which will in the end assure him of the greatest possible expectation of reward.

The labourer seeks to maintain the total of his wages for a given time by performing more labour, either by working a greater number of hours, or by accomplishing more in the same number of hours. Thus, urged on by want, he himself multiplies the disastrous effects of division of labour. The result is: the more he works, the less wages he receives. And for this simple reason: the more he works, the more he competes against his fellow workmen, the more he compels them to compete against him, and to offer themselves on the same wretched conditions as he does so that, in the last analysis, he competes against himself as a member of the working class.

Historically one of the main defects of constitutional government has been the failure to insure the fair value of political liberty. The necessary corrective steps have not been taken, indeed, they never seem to have been seriously entertained. Disparities in the distribution of property and wealth that far exceed what is compatible with political equality have generally been tolerated by the legal system. Public resources have not been devoted to maintaining the institutions required for the fair value of political liberty. Essentially the fault lies in the fact that the democratic political process is at best regulated rivalry; it does not even in theory have the desirable properties that price theory ascribes to truly competitive markets. Moreover, the effects of injustices in the political system are much more grave and long lasting than market imperfections. Political power rapidly accumulates and becomes unequal; and making use of the coercive apparatus of the state and its law, those who gain the advantage can often assure themselves of a favored position. Thus inequities in the economic and social system may soon undermine whatever political equality might have existed under fortunate historical conditions. Universal suffrage is an insufficient counterpoise; for when parties and elections are financed not by public funds but by private contributions, the political forum is so constrained by the wishes of the dominant interests that the basic measures needed to establish just constitutional rule are seldom properly presented. These questions, however, belong to political sociology. 116 I mention them here as a way of emphasizing that our discussion is part of the theory of justice and must not be mistaken for a theory of the political system. We are in the way of describing an ideal arrangement, comparison with which defines a standard for judging actual institutions, and indicates what must be maintained to justify departures from it.

A firm may achieve differentiation, yet this differentiation will usually sustain only so much of a price differential. Thus if a differentiated firm gets too far behind in cost due to technological change or simply inattention, the low cost firm may be in a position to make major inroads. For example, Kawasaki and other Japanese motorcycle producers have been able to successfully attack differentiated producers such as Harley-Davidson and Triumph in large motorcycles by offering major cost savings to buyers.

Reasoning systematically, Marx was one of the few socialists to understand that economic competition, motivated by "greed," was what drove prices down under capitalism, as capitalists ceaselessly searched for more profits by seeking cheaper ways of producing than those possessed by their fellow capitalist rivals. Mutual competition ensured that capitalists were in no position simply to tack higher profits onto production costs. Therefore, as production costs were driven down throughout an industry, prices tended to be driven down as well, to the benefit of the consuming public.

The ICC [Interstate Commerce Commission] illustrates what might be called the natural history of government intervention. A real or fancied evil leads to demands to do something about it. A political coalition forms consisting of sincere, high-minded reformers and equally sincere interested parties. The incompatible objectives of the members of the coalition (e.g., low prices to consumers and high prices to producers) are glossed over by fine rhetoric about “the public interest,” “fair competition,” and the like. The coalition succeeds in getting Congress (or a state legislature) to pass a law. The preamble to the law pays lip service to the rhetoric and the body of the law grants power to government officials to “do something.” The high-minded reformers experience a glow of triumph and turn their attention to new causes. The interested parties go to work to make sure that the power is used for their benefit. They generally succeed. Success breeds its problems, which are met by broadening the scope of intervention. Bureaucracy takes its toll so that even the initial special interests no longer benefit. In the end the effects are precisely the opposite of the objectives of the reformers and generally do not even achieve the objectives of the special interests. Yet the activity is so firmly established and so many vested interests are connected with it that repeal of the initial legislation is nearly inconceivable. Instead, new government legislation is called for to cope with the problems produced by the earlier legislation and a new cycle begins.

Many historians, many sociologists and psychologists have written at lenght, and with deep concern, about the price that Western man has had to pay and will go on paying for technological progress. They point out, for example, that democracy can be hardly expected to flourish in societies where political and economic power is being progressively concentrated and centralized.But the progress of technology has led and is still leading to just such a concentration and centralisation of power. As the machinery of mass production is made more efficient it tends to become more complex and more expensive - and so less available to the eterpriser of limited means. Moreover, mass production cannot work without mass distribution; but mass distribution raises problems which only the largest producers can satisfactorily solve. In a world of mass production and mass distribution the Little Man, with his inadequate stock of working capital, is at a grave disadvantage. In competition with Big Man, he loses his money and finally his very existence as an independent producer; the Big Man has grobbled him up. As the Little Men disappear, more and more economic power comes to be wielded by fewer and fewer people. Under a dictatorship the Big Business, made possible by advancing technology and the consequent ruin of Little Business, is controlled by the State - that is to say, by small group of party leaders and soldiers, policemen and civil servants who carry out their orders.

Substitution competition is a natural limit or control on prices. In a permaculture economy, every useful product or service in a market coexists with a variety of substitutes. There is a point to which monopolies become uneconomical/ unprofitable. Almost every product or service, or their inputs, may be used for a variety of purposes by a variety of consumers, If the price (a) causes there to be more or less consumption of (b) then a and b are substitutes. Substitution competition eventually causes monopolies to shrink or fail , or creates new market space which renders the previous monopoly relatively smaller in size and therefore not a monopoly in the context of the expanded economy

Ricardo's theory is absolutely right-within its narrow confines. His theory correctly says that, accepting their current levels of technology as given, it is better for countries to specialize in things that they are relatively better at. One cannot argue with that. His theory fails when a country wants to acquire more advanced technologies so that it can do more difficult things that few others can do- that is, when it wants to develop its economy. It takes time and experience to absorb new technologies, so technologically backward producers need a period of protection from international competition during this period of learning. Such protection is costly, because the country is giving up the chance to import better and cheaper products. However, it is a price that has to be paid if it wants to develop advanced industries. Ricardo's theory is, thus seen, for those who accept the status quo but not for those who want to change it.

The cultural Left has contributed to the formation of this politically useless unconscious not only by adopting “power” as the name of an invisible, ubiquitous, and malevolent presence, but by adopting ideals which nobody is yet able to imagine being actualized. Among these ideals are participatory democracy and the end of capitalism. Power will pass to the people, the Sixties Left believed only when decisions are made by all those who may be affected by the results. This means, for example, that economic decisions will be made by stakeholders rather than by shareholders, and that entrepreneurship and markets will cease to play their present role. When they do, capitalism as we know it will have ended, and something new will have taken its place. […] Sixties leftists skipped lightly over all the questions which had been raised by the experience of non market economies in the so-called socialist countries. They seemed to be suggesting that once we were rid of both bureaucrats and entrepreneurs, “the people” would know how to handle competition from steel mills or textile factories in the developing world, price hikes on imported oil, and so on. But they never told us how “the people” would learn how to do this. The cultural Left still skips over such questions. Doing so is a consequence of its preference for talking about “the system” rather than about specific social practices and specific changes in those practices. The rhetoric of this Left remains revolutionary rather than reformist and pragmatic. Its insouciant use of terms like “late capitalism” suggests that we can just wait for capitalism to collapse, rather than figuring out what, in the absence of markets, will set prices and regulate distribution. The voting public, the public which must be won over if the Left is to emerge from the academy into the public square, sensibly wants to be told the details. It wants to know how things are going to work after markets are put behind us. It wants to know how participatory democracy is supposed to function. The cultural Left offers no answers to such demands for further information, but until it confronts them it will not be able to be a political Left. The public, sensibly, has no interest in getting rid of capitalism until it is offered details about the alternatives. Nor should it be interested in participatory democracy –– the liberation of the people from the power of technocrats –– until it is told how deliberative assemblies will acquire the same know-how which only the technocrats presently possess. […] The cultural Left has a vision of an America in which the white patriarchs have stopped voting and have left all the voting to be done by members of previously victimized groups, people who have somehow come into possession of more foresight and imagination than the selfish suburbanites. These formerly oppressed and newly powerful people are expected to be as angelic as the straight white males were diabolical. If I shared this expectation, I too would want to live under this new dispensation. Since I see no reason to share it, I think that the left should get back into the business of piecemeal reform within the framework of a market economy. This was the business the American Left was in during the first two-thirds of the century. Someday, perhaps, cumulative piecemeal reforms will be found to have brought about revolutionary change. Such reforms might someday produce a presently unimaginable non market economy, and much more widely distributed powers of decision making. […] But in the meantime, we should not let the abstractly described best be the enemy of the better. We should not let speculation about a totally changed system, and a totally different way of thinking about human life and affairs, replace step-by-step reform of the system we presently have.

Patriotism,” said Lymond, “like honesty is a luxury with a very high face value which is quickly pricing itself out of the spiritual market altogether. [...] It is an emotion as well, and of course the emotion comes first. A child’s home and the ways of its life are sacrosanct, perfect, inviolate to the child. Add age; add security; add experience. In time we all admit our relatives and our neighbours, our fellow townsmen and even, perhaps, at last our fellow nationals to the threshold of tolerance. But the man living one inch beyond the boundary is an inveterate foe. [...] Patriotism is a fine hothouse for maggots. It breeds intolerance; it forces a spindle-legged, spurious riot of colour.… A man of only moderate powers enjoys the special sanction of purpose, the sense of ceremony; the echo of mysterious, lost and royal things; a trace of the broad, plain childish virtues of myth and legend and ballad. He wants advancement—what simpler way is there? He’s tired of the little seasons and looks for movement and change and an edge of peril and excitement; he enjoys the flowering of small talents lost in the dry courses of daily life. For all these reasons, men at least once in their lives move the finger which will take them to battle for their country.… “Patriotism,” said Lymond again. “It’s an opulent word, a mighty key to a royal Cloud-Cuckoo-Land. Patriotism; loyalty; a true conviction that of all the troubled and striving world, the soil of one’s fathers is noblest and best. A celestial competition for the best breed of man; a vehicle for shedding boredom and exercising surplus power or surplus talents or surplus money; an immature and bigoted intolerance which becomes the coin of barter in the markets of power— [...] These are not patriots but martyrs, dying in cheerful self-interest as the Christians died in the pleasant conviction of grace, leaving their example by chance to brood beneath the water and rise, miraculously, to refresh the centuries. The cry is raised: Our land is glorious under the sun. I have a need to believe it, they say. It is a virtue to believe it; and therefore I shall wring from this unassuming clod a passion and a power and a selflessness that otherwise would be laid unquickened in the grave. [...] “And who shall say they are wrong?” said Lymond. “There are those who will always cleave to the living country, and who with their uprooted imaginations might well make of it an instrument for good. Is it quite beyond us in this land? Is there no one will take up this priceless thing and say, Here is a nation, with such a soul; with such talents; with these failings and this native worth? In what fashion can this one people be brought to live in full vigour and serenity, and who, in their compassion and wisdom, will take it and lead it into the path?

As these contrasts show, capitalism has undergone enormous changes in the last two and a half centuries. While some of Smith’s basic principles remain valid, they do so only at very general levels. For example, competition among profit-seeking firms may still be the key driving force of capitalism, as in Smith’s scheme. But it is not between small, anonymous firms which, accepting consumer tastes, fight it out by increasing the efficiency in the use of given technology. Today, competition is among huge multinational companies, with the ability not only to influence prices but to redefine technologies in a short span of time (think about the battle between Apple and Samsung) and to manipulate consumer tastes through brand-image building and advertising.

But having developed productive forces to a tremendous extent, capitalism has become enmeshed in contradictions which it is unable to solve. By producing larger and larger quantities of commodities, and reducing their prices, capitalism intensifies competition, ruins the mass of small and medium private owners, converts them into proletarians and reduces their purchasing power, with the result that it becomes impossible to dispose of the commodities produced. On the other hand, by expanding production and concentrating millions of workers in huge mills and factories, capitalism lends the process of production a social character and thus undermines its own foundation, inasmuch as the social character of the process of production demands the social ownership of the means of production; yet the means of production remain private capitalist property, which is incompatible with the social character of the process of production. These irreconcilable contradictions between the character of the productive forces and the relations of production make themselves felt in periodical crises of overproduction, when the capitalists, finding no effective demand for their goods owing to the ruin of the mass of the population which they themselves have brought about, are compelled to burn products, destroy manufactured goods, suspend production, and destroy productive forces at a time when millions of people are forced to suffer unemployment and starvation, not because there are not enough goods, but because there is an overproduction of goods.

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The “German problem” after 1970 became how to keep up with the Germans in terms of efficiency and productivity. One way, as above, was to serially devalue, but that was beginning to hurt. The other way was to tie your currency to the deutsche mark and thereby make your price and inflation rate the same as the Germans, which it turned out would also hurt, but in a different way. The problem with keeping up with the Germans is that German industrial exports have the lowest price elasticities in the world. In plain English, Germany makes really great stuff that everyone wants and will pay more for in comparison to all the alternatives. So when you tie your currency to the deutsche mark, you are making a one-way bet that your industry can be as competitive as the Germans in terms of quality and price. That would be difficult enough if the deutsche mark hadn’t been undervalued for most of the postwar period and both German labor costs and inflation rates were lower than average, but unfortunately for everyone else, they were. That gave the German economy the advantage in producing less-than-great stuff too, thereby undercutting competitors in products lower down, as well as higher up the value-added chain. Add to this contemporary German wages, which have seen real declines over the 2000s, and you have an economy that is extremely hard to keep up with. On the other side of this one-way bet were the financial markets. They looked at less dynamic economies, such as the United Kingdom and Italy, that were tying themselves to the deutsche mark and saw a way to make money. The only way to maintain a currency peg is to either defend it with foreign exchange reserves or deflate your wages and prices to accommodate it. To defend a peg you need lots of foreign currency so that when your currency loses value (as it will if you are trying to keep up with the Germans), you can sell your foreign currency reserves and buy back your own currency to maintain the desired rate. But if the markets can figure out how much foreign currency you have in reserve, they can bet against you, force a devaluation of your currency, and pocket the difference between the peg and the new market value in a short sale. George Soros (and a lot of other hedge funds) famously did this to the European Exchange Rate Mechanism in 1992, blowing the United Kingdom and Italy out of the system. Soros could do this because he knew that there was no way the United Kingdom or Italy could be as competitive as Germany without serious price deflation to increase cost competitiveness, and that there would be only so much deflation and unemployment these countries could take before they either ran out of foreign exchange reserves or lost the next election. Indeed, the European Exchange Rate Mechanism was sometimes referred to as the European “Eternal Recession Mechanism,” such was its deflationary impact. In short, attempts to maintain an anti-inflationary currency peg fail because they are not credible on the following point: you cannot run a gold standard (where the only way to adjust is through internal deflation) in a democracy.

Is the consideration of a little dirty pelf, to individuals, to be placed in competition with the essential rights & liberties of the present generation, & of millions yet unborn? shall a few designing men for their own aggrandizement, and to gratify their own avarice, overset the goodly fabric we have been rearing at the expence of so much time, blood, & treasure? and shall we at last become the victems of our own abominable lust of gain? Forbid it heaven! forbid it all, & every state in the union! by enacting & enforcing, efficatious laws for checking the growth of these monstrous evils, & restoring matters in some degree to the pristine state they were in at the commencement of the War. Our cause is noble. It is the cause of Mankind! and the danger to it springs from ourselves—Shall we slumber & sleep then while we should be punishing those miscreants who have brought these troubles upon us, & who are aiming to continue us in them? While we should be striving to fill our Battalions—and devising ways and means to appreciate the currency—On the credit of which every thing depends? I hope not—let vigorous measures be adopted—not to limit the price of articles—for this I conceive is inconsistent with the very nature of things, & impracticable in itself—but to punish speculators—forestallers—& extortioners—and above all—to sink the money by heavy Taxes—To promote public & private Œconomy—encourage Manufactures &ca—Measures of this sort gone heartily into by the several states will strike at once at the root of all our misfortunes, & give the coup-de-grace to British hope of subjugating this great Continent, either by their Arms or their Arts—The first as I have before observed they acknowledge is unequal to the task—the latter I am sure will be so if we are not lost to every thing that is good & virtuous.

This is not necessarily true, however, of measures merely restricting the allowed methods of production, so long as these restrictions affect all potential producers equally and are not used as an indirect way of controlling prices and quantities. Though all such controls of the methods of production impose extra costs (i.e., make it necessary to use more resources to produce a given output), they may be well worth while. To prohibit the use of certain poisonous substances or to require special precautions in their use, to limit working hours or to require certain sanitary arrangements, is fully compatible with the preservation of competition. The only question here is whether in the particular instance the advantages gained are greater than the social costs which they impose. Nor is the preservation of competition incompatible with an extensive system of social services — so long as the organization of these services is not designed in such a way as to make competition ineffective over wide fields.

The rise of loneliness as a health hazard tracks with the entrenchment of values and practices that supersede any notion of "individual choices." The dynamics include reduced social programs, less available "common" spaces such as public libraries, cuts in services for the vulnerable and the elderly, stress, poverty, and the inexorable monopolization of economic life that shreds local communities. By way of illustration, let's take a familiar scenario: Walmart or some other megastore decides to open one of its facilities in a municipality. Developers are happy, politicians welcome the new investment, and consumers are pleased at finding a wide variety of goods at lower prices. But what are the social impacts? Locally owned and operated small businesses cannot compete with the marketing behemoth and must close. People lose their jobs or must find new work for lower pay. Neighborhoods are stripped of the familiar hardware store, pharmacy, butcher, baker, candlestick maker. People no longer walk to their local establishment, where they meet and greet one another and familiar merchants they have known, but drive, each isolated in their car, to a windowless, aesthetically bereft warehouse, miles away from home. They might not even leave home at all — why bother, when you can order online? No wonder international surveys show a rise in loneliness. The percentage of Americans identifying themselves as lonely has doubled from 20 to 40 percent since the 1980s, the New York Times reported in 2016. Alarmed by the health ravages, Britain has even found it necessary to appoint a minister of loneliness. Describing the systemic founts of loneliness, the U.S. surgeon general Vivek Murthy wrote: "Our twenty-first-century world demands that we focus on pursuits that seem to be in constant competition for our time, attention, energy, and commitment. Many of these pursuits are themselves competitions. We compete for jobs and status. We compete over possessions, money, and reputations. We strive to stay afloat and to get ahead. Meanwhile, the relationships we prize often get neglected in the chase." It is easy to miss the point that what Dr. Murthy calls "our twenty-first-century world" is no abstract entity, but the concrete manifestation of a particular socioeconomic system, a distinct worldview, and a way of life.