Those non-economists are also misunderstanding what competition means in sports.
The significance of competition is not that only one party can win. Just like in markets, competition leads to better performance by both winners and losers, which improves the overall entertainment product that is sports.
Those non-economists are also misunderstanding what competition means in sports.
The significance of competition is not that only one party can win. Just like in markets, competition leads to better performance by both winners and losers, which improves the overall entertainment product that is sports.