Competition Quote by Olympia Snowe
“Indeed, we must foster cost-saving competition. And that means joining the marketplace of other industrialized countries - not just for the manufacturers who sell drugs, but for consumers as well.”
About This Quote
Source Speech: U.S. Senate, 2005
Encouraging competition among nations lowers costs for consumers and spurs innovation.
In simple terms: Competition lowers costs and drives innovation.
Key Takeaway
Promote fair market competition.
Themes
economics
competition
consumer welfare
policy
Mood
analytical
pragmatic
Type
policy
economic
When to use this quote
- government procurement
- global trade agreements
Key Concepts
market regulation
international trade
pharmaceutical pricing
Questions to Reflect On
- How can we balance cost and quality?
- What safeguards ensure fair competition?
A Different Perspective
May lead to reduced quality if not regulated.
