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CSPAN2 Book TV September 6, 2009 - Vimarsana News

CSPAN2 Book TV September 6, 2009

steal market share from their rivals with no intention of benefiting society. the end result would be competition would drive prices down, higher quality products would be introduced to appeal to rival firms and the consumers in front general would be the ultimate beneficiaries of that competitive process. they would get better products at prices just high enough to cover the price of production. it's a remarkable story but as i noted, adam smith himself didn't believe that it was a general description of what happens when selfish people go about their business. erntd .. >> of course...