Economic Freedom Network Asia annual conference 2011
 'Competition: Engine for Prosperity'
 
Resolution
 
Preamble
 
Competition is an essential engine for prosperity.
To prosper all nations should encourage and nurture competition.  Competition encourages innovation and creativity. It motivates producers to make the best offers to consumers, therefore creating lower prices, higher quality products and better services.
 
The Role of Government
The primary role of the government is to enforce the rule of law, provide impartial judiciary, protect property rights and individual freedom. Competition is the best regulator, therefore the government should foster competition rather than restrict it.
 
Competition in Public Service Delivery
The people will benefit more if the government does not monopolise the delivery of public services. Competition can be introduced and fostered in the major public services such as education, healthcare, transport, communications, and utilities by diversifying the providers through various forms of private participation.
 
Competition, Economic Freedom and Prosperity
Free market economy is necessary for progress. Empirical evidence shows that open economies are more prosperous. Competition is a key element in a free market economy.