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What is better; A competitive market? Or a controlled market?

What are the pros and cons if you will?
Chemical engineer:

A competitive market is best for all. With more competition, comes :

1. Lower prices (as they compete to win people over)
2. Innovation or new techniques and ideas - to beat their competitors
3. Choice - with more companies, mean a wide variety or products to choose from. No having to depend on one source.

A controlled market isn't so good. the only benefit I can see here is standardization in protocols across the market (no confusing transcibing), and that's about it.


A competitive market is always better as they can keep the prices down and it allows a competitive market which is a very good thing these days!


The competitive market can be a controlled market, anyway, due to simple manipulation.


Competition allocates scarce resources to their highest valued use. Controlled economies result in waste of scarce resources and increase in pollution.

Brian P. O'Gorman:

Competitive of course. Competition almost always results in better quality and prices.

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