The principle of competition--that things of value should be provided by more than one supplier, in rivalry with each other--is the explicit policy of antitrust law and the implicit policy of the First Amendment. But in most areas of government policy competition is regarded as subordinate or even detrimental--after all, "government policy" consists of using the state's monopoly power to produce results that are different from those of competitive arrangements.

In this lecture, AEI president Christopher DeMuth argues that the principle of competition holds great potential for both better government and better political rhetoric. More than is generally recognized, competition is a central principle of our constitutional order and a central issue in today's debates over tax reform, entitlement reform, school reform, globalization, and much else. As compared to other policy lodestars--such as "choice," "efficiency," and "growth"--competition is more grounded in practical experience and popular appreciation, and more pertinent to the concerns of ordinary citizens about the performance of government programs.

Christopher DeMuth has been president of the American Enterprise Institute since 1986. He was previously a practicing lawyer, a consulting economist, a teacher at the Kennedy School of Government, and a White House official in the Reagan and Nixon administrations. His essays have appeared in The American Enterprise, the Wall Street Journal, Commentary, The Public Interest, and the Harvard Law Review.