By competition the total amount of supply is increased…
“By competition the total amount of supply is increased, and by increase of the supply a competition in the sale ensues, and this enables the consumer to buy at lower rates. Of all human powers operating on the affairs of mankind, none is greater than that of competition.”
About This Quote
This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.
Competition expands supply, which drives prices down, benefiting consumers; it is a powerful force in society.
In simple terms: More competition means lower prices for buyers.
Key Takeaway
Encourage healthy competition.
Themes
economics
consumer welfare
market dynamics
Mood
analytical
optimistic
Type
economic
political
When to use this quote
- Retail pricing
- industrial production
- government policy
- consumer advocacy
Key Concepts
Supply and demand
price mechanisms
market efficiency
Questions to Reflect On
- How does competition affect innovation?
- What limits should be placed on competition?
A Different Perspective
Competition can lead to monopolies if unchecked.