ABSTRACT
According to the atomistic theory of competition, if there are many producers, at one given time, for a given product, there is competition. At the time when an entrepreneur decides the production of a new good, because there is freedom to enter markets, he or she takes risks - losing capital and wasting time for nothing - but the innovator does it because he hopes to get a profit which is satisfactory. True entrepreneurs are totally different from the alleged entrepreneur of the theory of atomistic competition. Free competition is defined from the process that characterises the market: there is competition when there is free entry on the market, regardless of the consequences resulting therefrom. New products or new methods of production to lower costs can only be discovered under the pressure of competition. Competition in economic activities has more to do with the other competitive activities of life than with the theoretical conceptualization of economic competition provided by economists.
