 competition in order to determine what is the best fit for the environment in which they exist. Without competition existing freely and constantly, Emperor Penguins couldn't exist, nor, of course, could we. So, well, sorry about the sidetracking to Penguins. I wanted to talk about the economic justification for openness. So, let's move from Darwin's England to Scotland. The first Scotsman to get his picture on an English banknote was Adam Smith. He got this banknote 230 years after publishing The Wealth of Nations. The Bank of England decided that he was an important economist. He was a big proponent of free competition as the bedrock of a successful economic system. Like Vice President Cruz, I do that it's by underpinning competition that openness is essential in today's digital agenda. So, as Smith said in this very long-winded English, the price of monopolies upon every occasion, the highest which can be got. I love reading out these old English statements because they sound nice, they sound very important, but they actually make a lot of sense. And they're so long that by the time you get to them, the end of it, you actually have had to think a little bit. So, he pointed out, and it's interesting that most traditional economists at that time, including the economist, treated all forms of monopolies as in all forms of control of ideas as something extremely restrictive. They were things that increased the price, the natural price of any product. And this was true for, you know, patents, copyrights, and other such things as well. So, laws that result in exclusive privileges for any entities result in a price that is above what would be the natural price, which is when everyone is fully competing. There is the notion of perfect competition, which was evolved somewhat after that. And it is, you know, in a sense, a theoretical construct, but we'll see that perhaps it's not entirely theoretical. No participant has market power. These are some of the features of perfect competition. No participant has market power. What that means is that it's not a market where someone who has a lot of big bullies can get the customers. It's a market where all the people who are producing and participating in the market have an equal amount of power, an equal amount of opportunity. There are no barriers significant to entry and exit. This means that it is possible for any entrant who can make the product that has to be made to enter easily into the market and to leave the market and go to something else. It is also possible for consumers of the market for purchases to buy something new and to change that product and buy something else easily. So the barriers to entry and exit are not there.