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Updated: May 18, 2025
In other words, even monopolists behave as though their market was fully competitive, their production and pricing decisions and actions constrained by the "ghosts" of potential and threatening newcomers. While intellectually tempting, contestability theory has little to do with the rough and tumble world of business. Contestable markets simply do not exist.
What we may believe least contestable on the subject is this: from the beginning of the world it has been hard to see clearly; right thinking has been difficult everywhere and always. In the matter the ancients were in no wise privileged above the moderns, and it might be added that there is no difference between men when they are considered from this point of view.
"But," interrupted Bonaparte bitterly, "this is an apology you are making for yourself." "Be it so. I will divide my discourse into two parts. The first will be a contestable apology; the second an array of incontestable facts. I will set aside the apology and proceed to facts. June 17 and 18, the battle of the Trebbia.
Frothingham, slave to the contestable, and Little Cawthorne in bondage to humour, and Amory and himself swept off their feet by a heavenly romance, suppose a party of savants and economists had arrived in Yaque, with a poet or two to bring away the fire what then? St. George lost the doubt in the noon of his own certainty.
So pursued, privateering can be made pecuniarily successful, as was shown by the increasing number and value of prizes as the war went on. It has also a distinct effect as a minor offensive operation, harassing and weakening the enemy; but its merits are more contestable when regarded as by itself alone decisive of great issues.
After the second year the good looks of the child became more subtle and more contestable. He began to grow, as his unfortunate grandfather would no doubt have put it, "rank." He lost colour and developed an increasing effect of being somehow, albeit colossal, yet slight. He was vastly delicate. His eyes and something about his face grew finer grew, as people say, "interesting."
And if conclusive proof be difficult to be obtained, shall we therefore fasten irremovably upon equivocal proof? Can we change the nature of what is contestable, and make it incontestable? Can we make that conclusive which God and nature have made inconclusive?
Apart from the fact that we might with equal justification reverse the syllogism, and cause it to declare that there must be a certain justice in Nature, since we, her children, are just, we need only consider it as it stands to realise how doubtful and contestable is at least one of its premisses.
Material conquests which were still contestable and theoretical principles which were still fragile were by him incorporated in institutions and the laws. It is an error to say that the Revolution terminated with his advent. Far from destroying it, he ratified and consolidated it. How the Work of the Revolution was Confirmed by the Consulate.
This assertion is, indeed, somewhat more contestable than the former, but is at least credible; since, if we may be permitted on this, as on other occasions, to judge of the future from the past, we may conclude, that those who have let pass such opportunities as their enemies have in the height of contempt and security presented to them, will hardly ever repair the effects of their conduct, by their bravery or activity in another campaign; but that they will take the pay of Britain, and, while they fatten in plenty, and unaccustomed affluence, look with great tranquillity upon the distresses of Austria, and, in their indolence of gluttony, stand idle spectators of that deluge, by which, if it be suffered to roll on without opposition, their own halcyon territories must at last be swallowed up.
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