The Marginal Non-hermit

The word “competition” gets a really bad reputation from a lot of directions these days. However, much of that reputation comes from the fact that the term “competition” in economics doesn’t have all of the implications it does in plain English. This allows anti-market forces to associate a wide variety of contemptible behavior under the umbrella of “competition,” while papering over the fact that many of the negative elements associated with competition are actually not included in the economic definition of competition.
It seems like economics has this problem in a variety of places, where they come up with terms that use preexisting English words with specific connotations. “Perfect” competition is another example of this, where “perfect” in the context of economics means “adhering to the model” as opposed to “morally righteous” or “correct.”
Check out my video for more! Also available on Odysee at https://odysee.com/@MarginalNonHermit:3/rehabilitating-competition:d

Update: The video is now also available on YouTube.

There was a nice little article by the great Robert P. Murphy on mises.org the other day, so I decided to do a reading of it. The reading is licensed under a Creative Commons License, per the requirements of the license.
The marginal revolution in economics was a major step forward in the late 1800s that helped solve some serious problems in the field, especially around the concept of value. Dr. Murphy’s article is a concise explanation of what it means to look at an economic problem “on the margins,” so go have a listen!
Also available on Odysee at https://odysee.com/@MarginalNonHermit:3/reading-what-does-marginality-mean:3