Time has a really interesting piece about competition and buyer behavior in the fast food industry, and how Wendy’s in particular is reacting to a changing marketplace. Wendy’s just edged out Burger King for the #2 spot, behind behemoth McDonald’s. The story is a real-world example of how and why competition leads to more and better choices for consumers. It’s a shame so many public officials fail to understand that the same competitive forces can, and will, work in other sectors — like healthcare and health insurance for example.