business closures. People and firms lack the vision, the
knowledge and the wherewithal needed to support
competition. They fiercely oppose it and governments
throughout the world bow to protectionist measures. To
no avail. Closing a country to competition will only
exacerbate the very conditions which necessitate its
opening up. At the end of such a wrong path awaits
economic disaster and the forced entry of competitors. A
country which closes itself to the world - will be forced to
sell itself cheaply as its economy will become more and
more inefficient, less and less competitive.
The Competition Laws aim to establish fairness of
commercial conduct among entrepreneurs and competitors
which are the sources of said competition and innovation.
Experience - later buttressed by research - helped to
establish the following four principles: