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Competition within economies is the act of competing in the international economy. Competition policy is necessary to regulate competition between firms. It serves as a barrier for misconduct of firms while encompassing antimonopoly policies which act as guideline against boundaries or barriers. "Competition policy is understood as facilitating corporate takeovers to allow more efficient managers to control productive assets" (Peritz, 1996: 282) The main goal for competition policy is to support effectiveness of the economy as a whole. Smith points out how competition will only benefit both consumers and producers in the end rather than have a monopoly.
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(Americanlands) Although this organization is seemingly beneficial, like all organizations, there are people in the world who oppose it. The following are some of the negativities of the World Trade Organization. The WTO serves only the interests of multinational corporations. It is not at all a democratic institution but its policies impact all of society. (globalexchange) The free-trade promoted by the WTO is really controlled and managed by corporations and financial institutions for their own benefit.