The Olympics. X-Factor. The Nobel Prize. Everywhere you look: competition – for fame, money, attention, status. Being top seems to be everything – but what is it costing all of us? We depend on competition and expect it to identify the best, make complicated decisions easy and to motivate the lazy and inspire the dreamers. But Margaret Heffernan shows that competition regularly produces just what we don’t want: rising levels of fraud, cheating, stress, inequality and political stalemate.