ipl-logo

The Negative Impact Of Competition On The American Economy

543 Words3 Pages

The race to space was a test of American spirit, a beautiful conglomeration of teamwork and nationalism. Despite America not reaching space first, the challenge displayed the benefits of competition on an international level which significantly increase productivity and efficiency. Throughout history several prominent themes have revealed themselves as strong driving factors that spurred industry, and identified a nation. However underlying all of the crucial aspects of our American society is the theme of competition. Competition occurs in many ways whether it is internally among American business or externally on an international scale. Competition drives the American economy and stimulates progress and growth. Competition gives businesses fuel to compete and improve the American economy. Also competition gives our nation extra initiative to improve our nation as a whole and evolve into a nation with fresher new ideas. Some people may claim that competition comes with unnecessary stress however without the added pressure on our economy we would become stagnate. In 1998 the human genome project was launched. Many years of slow ineffective research with little to no competition began to look like a failure. The American government then decided to offer 3 million dollars to the winner, thus drastically increasing competition …show more content…

For consumers, competition provides a wide array of choices. Choices for the consumer often lead to a process of natural selection and evolution among the products in the healthy free market. If your product is not trending on the market you are more likely to improve you product leading to a positive impact on society. Also for businesses competition pushes you to compare your products or services against your competitors ultimately leading to lower prices and higher performance. When this happens society usually has more access to new inventions that could help

Open Document