Investor CAFÉ

Is Capitalism All about Dog-Eat-Dog Competition?

“Markets are a vast cooperative enterprise in which buyers and sellers work together to set prices and allocate resources. Transactions occur without coercion and, in fact, occur only with cooperation.”

– Jason Voss, CFA, director, CFA Institute

Yesterday, I played “Ten Tennis” with my grandson Luke (age 9). I invented this new version of tennis called “Ten Tennis” to make the game more enjoyable when two people have significant differences in ability (which happens quite frequently, I’ve found). The standard game of tennis is a highly competitive one: “I win, you lose.”

But with Ten Tennis, the game suddenly becomes cooperative. Basically, we begin with the regular serve, but the idea is to work together and hit the ball toward each other and keep the game going for at least ten volleys. Once we keep it going for ten volleys, it becomes competitive and we see who can win. We tied in two games, 3-3, and 6-6. It’s the only way to play tennis!

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