People often deride competition while lauding cooperation. I consider this an error in judgment, and one with potentially serious consequences.

The reality is that competition and cooperation are the two sides of the same conceptual coin, and both are necessary to create and maintain the balance required for a healthy society and economy.

Competition is what accounts for the improvement of things as well as a reduction of the cost to produce and own them. Competition between rivals in any industry benefits the consumer. Where competition is lacking (almost always the result of governmental interference) the consumer pays more for inferior products or services and innovation is inhibited.

Cooperation is what accounts for our ability to accomplish things we could not do alone. A significant turning point was reached when our ancestors banded together in larger groups so as to take down bigger animals than they could do on their own or in significantly smaller groups.

In sports individuals or teams compete while at the same time cooperating in their adherence to the rules of the game. Neither competition nor cooperation is superior. They are both necessary for progress and human flourishing.