ABSTRACT
There are two principal schools of thought. The Chicago School sees the primary goal of competition as efficiency in the use of resources. Generally, competition is good because it encourages corporations to be more efficient. Practices such as collusion are discouraged because they enable corporations to price according to profit targets rather than market forces, which results in a less efficient use of resources. The Competition School similarly views competition as useful in achieving an efficient use of resources. However, not only are measures to eliminate monopolies and oligopolies supported, but also competition measures which aim to achieve social ends.
