The law sanctions competing for profits that are largely another’s unearned reward

Evidence

That competition is not unfair in a legal sense, merely because the profits gained are unearned, even if made at the expense of a rival, is shown by many cases besides those referred to above. He who follows the pioneer into a new market, or who engages in the manufacture of an article newly introduced by another, .seeks profits due largely to the labor and expense of the first adventurer; but the law sanctions, indeed encourages, the pursuit. — Henry M. Hart, Jr. and Albert M. Sacks, The Legal Process, 2109

Categorization

• XREF: connects to: Unfair trade harms by misrepresentation appropriating the first user’s earned credit — Henry M. Hart, Jr. and Albert M. Sacks, The Legal Process: Basic Problems in…, 2073; Market competition erodes profits but increases rents. — Yanis Varoufakis, Technofeudalism: What Killed Capitalism, 468; Legal prohibitions create supervised illegal markets the state profits from — Michel Foucault, Discipline & Punish- The Birth of the…, 429 (+1 more)

Broader Connections

• The defining difference between rent and profit is vulnerability to market competition. #expands (0.85) — Yanis Varoufakis, Technofeudalism, 467
• Market competition erodes profits but increases rents. #expands (0.80) — Yanis Varoufakis, Technofeudalism, 468
• Legal prohibitions create supervised illegal markets the state profits from #expands (0.72) — Michel Foucault, Discipline & Punish- The Birth of the…, 429