By: Jacques Gansler, William Lucyshyn, Michael Arendt
Competition is a driving force in the U.S. economy and a vital component of efficiency and improved market performance in both the public and private sectors. It has been widely held among economists that competition provides incentives to produce better products faster, at lower costs, and with better quality, while focusing more attention on customer needs. Congress has recognized the benefits of competition and has mandated its use with the Competition in Contracting Act of 1984. From a defense perspective, the mandate is simply stated—competition is very beneficial; maximize its use.