Reducing intensity of economic competition
Synonyms: Reducing economic rivalry
Reducing market competition
Restricting commercial competition
Claim: One cannot employ two systems of weights and measures. What holds for a national economy or among developed countries is valid also in commercial relations between rich nations and poor nations. Without abolishing the competitive market, it should be kept within the limits which make it just and moral, and therefore human. In trade between developed and underdeveloped economies, conditions are too disparate and the degrees of genuine freedom available too unequal. In order that international trade be human and moral, social justice requires that it restore to the participants a certain equality of opportunity. This equality is a long-term objective, but to reach it, we must begin now to create true equality in discussions and negotiations. Here again international agreements on a rather wide scale would be helpful: they would establish general norms for regulating certain prices, for guaranteeing certain types of production, for supporting certain new industries. Who is there who does not see that such a common effort aimed at increased justice in business relations between peoples would bestow on developing nations positive assistance, the effects of which would be not only immediate but lasting? (Papal Encyclical, Populorum Progressio, 26 Mar 1967).
Subjects: Commerce MarketConditions of tradeRestrictionsEconomic
Type Classification: E: Emanations of other strategies