TITLE:
Healthy Economic Competition as Basis for Better Living Standard
AUTHORS:
Revaz Lordkipanidze
KEYWORDS:
Perfect Competition, Healthy Competition, Economic Policy, Living Standard, Efficiency
JOURNAL NAME:
Theoretical Economics Letters,
Vol.15 No.2,
April
24,
2025
ABSTRACT: The work offers recommendations for the urgently needed healthy competition, which is considered as a state of the economy close to perfect competition, which can be achieved with an economic policy priority based on the intellectual growth of society, a qualified understanding of healthy competition, a healthy lifestyle and mass sports, environmental protection using waste-free sustainable development technologies and reasonable use of artificial intelligence. It is considered a vital and controversial question in economic theory why poverty in the world remains quite high, despite the unprecedented development of technology and economic opportunities for enrichment. Using the methods of approximate multifactorial elimination, it was revealed that an innovative understanding of healthy competition is particularly relevant for significantly increasing efficiency and living standards in the world.