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On Free Markets, Their Benefits and Shortcomings and on How Competition Policy Operates in Such Markets

By  |  February 15, 2016

Posted by Social Science Research Network

On Free Markets, Their Benefits and Shortcomings and on How Competition Policy Operates in Such Markets

Adriaan Ten Kate Sr.

Abstract:     In this article a description is given of what exactly market participants are free to do in a free market, under what conditions market freedom leads to economic efficiency, why a free-market system cannot be expected to lead to socially acceptable outcomes and how competition policy is supposed to operate in such markets.