ABSTRACT
This chapter deals with the effectiveness of competition within a given social framework, so that what is relevant is the unevenness, not the absolutely low standard. Economic competition as at present found in Britain can be improved by removing a number of the obstacles to its efficient working. There is a monopoly sector in British business, and even outside the sector many traces of monopoly can be found. It cannot be seriously argued that economic competition is the only sanction and control mechanism needed. Competition, in its turn, can be for social prestige or political power as well as for money. These are measures reflecting an overall verdict on competitors' efficiency. Efficiency may also be measured more directly and in detail in terms of the physical realities underlying this overall verdict. There are cases where any or all of the alternatives to economic competition may be needed to supplement or replace it.
