In a recent podcast Phil Dobbie suggested that Australia suffers for its relatively small population size, which restricted competition and meant people were paying higher prices. Peter Y, a listener, wrote in saying Phil needs to get out of his rut on thinking about competition – Steve Keen needs to explain to him how competition really works. He does, in this edition of the podcast, but Steve still agrees a lack of competition does mean Australians are still suffering from a lack of competition.

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