Business Quote by William W. Lewis
““The bigger story was competition causing more productive business enterprises to replace less productive ones...However, it provides even more reason to worry about all the people living in economies where protection and distortion of competition allow unproductive enterprises to persist and cause these people to fall further behind, but even more importantly, to remain in poverty.””
About This Quote
Source Book: Competition and Economic Development, William W. Lewis, 1995
Competitive markets drive efficiency, while protectionism lets unproductive firms survive, deepening poverty.
In simple terms: Competition improves productivity; protection harms the poor.
Key Takeaway
Promote fair competition to lift economies.
Themes
economics
poverty
competition
policy
Mood
concerned
analytical
Type
policy
economic
When to use this quote
- government regulation
- development aid
- entrepreneurship
- trade policy
- social safety nets
Key Concepts
Market efficiency
institutional failure
inequality
Questions to Reflect On
- How can policymakers balance regulation with competition?
- What incentives can encourage productive firms?
A Different Perspective
Protection can create short‑term political gains but long‑term economic harm.
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