Whenever any one is deterred by fear of, or by affection for, some other trader, from getting all he can, in so far competition is limited.

Whenever any one conspires with another trader to act together with him to withdraw or to alter his bid, in so far competition is limited.

Private property and economic competition do not merely happen to exist side by side, forming more or less favored conditions each for the other; they are essentially connected.[7] It is not our task at this point to present the advantages and disadvantages of competition, but merely to indicate its important place in the actual economic world.

Like private property, competition is not the universal feature of our present system, but it is the most general and characteristic method of valuation, of price fixing, and of trade.
Sec.11.

#Limitation of competition by custom.#[8] The relatively large influence of competition in present society appears more plainly in comparing the present system with that of an earlier state of society or with that of a present savage tribe.