City Observer Newsletter 28 February 2013

Competition is an interesting concept. US society and culture could be said to be based on this guiding principle, that ‘competition is good’. At the end of the nineteenth century and into the twentieth, the United States’ natural advantages of rich resources, free market rules, historic links to Europe, and a huge burgeoning domestic consumer market, amongst other features, helped drive Entrepreneurs like Rockeller, Carnegie, and Candler with Coca-Cola. There were no personal or corporate taxes in the US until 1913 and that era could be described as rampant capitalism. The culture of US entrepreneurialship I think in recent decades has helped create the likes of The Internet, Google, Facebook, Microsoft, Apple, Fox Entertainment, etc.

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