Good is subjective. Whats good for the consumer, may not be
good for the industry players, and may also not be good for the
nation.
But this is my perspective of competition in Sg.
Ideally, less govt dictation, more free market decisions.
2 antagonistic players are better than 1 player because, if one
party charges a premium/ become complacent, the other can lower
rates / be innovative to gain market share.
If 1 player does not listen to the market/ authorities, the other
player can attempt to curry flavour by being a moderate.
However, if the industry players behave like a cartel, (I think of
cab companies) then, theres little benefit of competition.
Therefore, as a consumer, we shd not use such terms as wasting
resources but instead, we shd support/reinforce the benefits of
competition, such as ranking industry players, and consume only the
services of the better player. Make the No. 2 hurt till they think
of something better.
