On Free Competition, by the Book
On November 25th, 5pm, at the ASE Publishing House stand from the GAUDEAMUS International Book and Education Fair 2017, Andreas Stamate-Ștefan launches his book entitled Real și Imaginar în Teoria Economică a Concurenței. O Interpretare în Tradiția Școlii Austriece de Economie [Real and Imaginary in the Economic Theory of Competition. An Interpretation in the Tradition of the Austrian School of Economics], part of Studia Praxeologica collection developed by the publisher. The Market for Ideas will be present at the event by two of the book discussants – Professor Dumitru Miron, PhD (honorary editor of TMFI) and Associate Professor Octavian-Dragomir Jora, PhD (Founder and Editor-in-Chief of TMFI). Professor Radu-Cristian Mușetescu, PhD, and Associate Professor Mihai-Vladimir Topan, PhD, the scientific reviewers of the book, will join the debate. As the author himself, all the four speakers come from the Bucharest University of Economic Studies, the Faculty of International Business and Economics.
Devoted to a Romanian auditorium, the book stands on a thoroughly scrutinized international literature that marked the history of economic thought (and policies) with respect to one of the most intriguing social phenomena – competition. Seen from different angles as either too fierce or too fragile, the framing of competition is disputed by the advocates of market liberties and those of state edicts. The author praises free competition as a defining feature of free market (or capitalism), that is more than the system of “animal spirits”, as ironized, but that of legitimate owners of resources. There are strong theoretical reasons to understand that competition among myriad of producers is not Nirvana and monopoly is not a tragedy (except when protected by the monopoly-state). The state does not have a scientific or magic secret formula for the optimal number of competitors on the market or for the optimal prices or for the optimal market shares and it is a poor candidate to be the guarantor of the preservation of virtue or fairness since it is rather built on very opposite premises.