THE STATIC AND DYNAMIC MECHANICS OF COMPETITION - COMMENT

The author provides constructive criticism of Hunt and Morgan's (1995) promotion of the dynamic disequilibrium paradigm and explains why the ir comparative advantage and market orientation theory is not dynamic enough. He discusses what creates market diversity and comparative adv antage, why competitive markets are more efficient, how competitive ma rkets fail, and how management of failed markets can fail. The author' s goal is to demonstrate the explanatory power of the dynamic paradigm and encourage the use of it to focus on how firms can learn to improv e their competitive processes.