ABSTRACT
Economic competition has been considered so far as a process operating within a certain framework of personality, social norms, and social structure, and a certain physical and biological environment. The social framework determines the social processes within it; but the social processes continually reshape the social framework. The social framework determines the social processes within it; but the social processes continually reshape the social framework. Economic competition, as a form or part of social process, makes its contribution to this. Economic competition forces firms to conform to the prices indicated by the best technical standards of the day. A wide range of new industries, experience since 1937 has shown, can operate economically in what were then the depressed areas of Britain. The problem in an industry faced with redundancy is to eliminate not only workers but firms. The discussion of competition and the social framework has been rather weighted on the side of criticism of competition.
