… is from page 26 of the original, 1982 edition of Dominick Armentano’s superb but regrettably neglected volume Antitrust and Monopoly: Anatomy of a Policy Failure:
Business competition is always a dynamic process, not a given static state of affairs, in which suppliers continually strive to offer improved alternatives to market participants. Unlike the perfectly competitive world, competition is a process of discovering opportunities for profit, and then adjusting market conditions so that these opportunities tend to be exploited.
