自由竞争的缺陷是什么？【从零到一 Zero to One 03A】

The opposite of perfect competition is monopoly. Whereas a competitive firm must sell at the market price, a monopoly owns its market, so it can set its own prices. Since it has no competition, it produces at the quantity and price combination that maximizes its profits.

To an economist, every monopoly looks the same, whether it deviously eliminates rivals, secures a license from the state or innovates its way to the top. In this book, we’re not interested in illegal bullies or government favorites: by “monopoly,” we mean the kind of company that’s so good at what it does that no other firm can offer a close substitute. Google is a good example of a company that went from 0 to 1: it hasn’t competed in search since the early 2000s, when it definitively distanced itself from Microsoft andYahoo!

Americans mythologize competition and credit it with saving us from socialist bread lines. Actually, capitalism and competition are opposites. Capitalism is premised on the accumulation of capital, but under perfect competition all profits get competed away. The lesson for entrepreneurs is clear: if you want to create and capture lasting value, don’t build an undifferentiated commodity business.

Keywords & phrases

1)       whereas   conj. 然后, 鉴于, 反之    

2)       maximize   v. 最大化

3)       devious   adj. 不正当的；迂回的

4)       rival   n. 劲敌，对手

5)       secure   adj. 安全的；v. 确保／get by special effort

6)       innovate   v. 创新

7)       bully   n. 暴徒；v. 欺负，以强凌弱

8)       substitute   n. 替代物

9)       definitely   adv. 明确的

10)   mythologize   v. 神化，将神话

11)   be premised on   以…为前提

12)   credit   n. 信用；学分；v. 归功于

13)   capitalism   n. 资本主义