"The world of antitrust is reminiscent of Alice’s Wonderland: everything seemingly is, yet apparently isn’t, simultaneously. It is a world in which competition is lauded as the basic axiom and guiding principle, yet "too much" competition is condemned as "cutthroat." It is a world in which actions designed to limit competition are branded as criminal when taken by businessmen, yet praised as "enlightened" when initiated by the government. It is a world in which the law is so vague that businessmen have no way of knowing whether specific actions will be declared illegal until they hear the judge’s verdict—after the fact."
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Original Language: English
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Alan Greenspan "Antitrust", essay at the National Association of Business Economists (25 September 1961); published in Rand, Capitalism: The Unknown Ideal
https://en.wikiquote.org/wiki/Competition
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Competition
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