A *(political term).

Competition based on real, total information instead of the explicit or implicit lies issued from the most powerful cheaters.

Fair Competition is the ideal that (classical) _(liberalism) tells us to strive toward, as a stable way to enhance any reflective dynamical system's informational state.

The French most often misinterpret fair competition, that they traditionally translate as "libre concurrence" ("libre" meaning free) instead of "concurrence loyale" that fits better. They tend to associate this "free" competition with lack of rules, unlimited possibility to cheat and to threaten, etc, and many politicians use this association as a repellant against people defending freedom. But this stems from misuse of the word "free". The freedom that classical liberalism is free enterprise, that is, freedom for anyone to enter the competition and invest one's resources in any civil activity; should existing competition fail to fulfill some needs, or do it at excessive prices, free entreprise guarantees that new competition will fulfill the opportunity of making a living out of reducing costs for the consumers. Fair Competition is the dual requirement for Free Entreprise; it means that the competing parties must abide by rules of respect of each other and of the consumer, that law and justice should enforce whenever it is doable; it means that the _(overhead) for obtaining _(information) that helps choose among the competition should be reduced. This in particular means that no information should be concealed to consumers, that no misinformation be spread among them, that there be actual competition and no trusts that racket people.

Please be aware that sadly, "fair competition" is often used as a slogan, outside of any theoretical context that gives it any meaning, and sometimes in fallacious ways that distort such worthwhile contexts. For instance, there is currently an outstandingly high power of the advertisement lobby over the mass-media; these people try to justify their methods, by an argument that does indeed justify the existence of similar corporations, but of completely opposite methods: they invoke the need for consumer to be informed about products that exists in any liberal market, so that the competition be fair. Sure, information is cheerly needed, but propaganda is not information, for it contains much more noise and disinformation than it contains information. To be fair, advertisement should be based on actual, objective arguments, all of which must be easily checkable by the advertisee, not on slogans, fallacious associations, and calls to people's lowest instincts.