The Centrality of Rivalry

Abstract

The aim of this article is to argue that the old-fashioned idea of rivalry remains central to the concept of effective competition and, in turn, to the promotion of the competitive process. Rivalry was the core meaning of competition among the early economists. The concern with vigorous, sustained actual rivalry may have been lost sight of, but it ought not to have been. Rivalry cannot of course be the exhaustive focus for many other factors and influences affect the level of effective competition. But a searching rivalry inquiry provides a valuable initial screen. By reemphasizing the primacy of rivalry, we may also foster the ability of competition law to act not just as a key driver of economic efficiency and growth, but also as a pro-democratic vehicle to check powerful private centers of economic power.