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U.S. Antitrust and EU Competition Policy: Where has the Former Been, Where is the Latter Going?

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Author Info

  • Stephen Martin

    ()
    (Department of Economics, Krannert School of Management, Purdue University)

Abstract

The earliest U.S. antitrust laws were adopted after technological changes — most importantly, the development of a national railway network — made the U.S. political union a single economic market. They were adopted with the stated, and no doubt largely sincere, purposes of preventing collusion and strategic entry-deterring behavior. Early application of the antitrust laws relied on a rule of competition to determine whether business conduct was or was not permitted. This has evolved into an explicit evaluation of the impact of businesses practices on consumer welfare, conceived of and measured in an economic sense. EU competition policy was adopted in advance of economic integration. It differed sharply from the traditional policies of the original EC6 member states toward business behavior. It was adopted with the stated, and most likely sincere, purpose of furthering economic integration, and to this end prohibited practices that were seen as distorting competition. Early applications of competition policy, particularly in the European Coal and Steel Community, may have had perverse effects. There are indications of an evolution towards an economic performance standard in the European Union as well.

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Bibliographic Info

Paper provided by Departamento de Economia, Gestão e Engenharia Industrial, Universidade de Aveiro in its series Working Papers de Economia (Economics Working Papers) with number 27.

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Length: 22 pages
Date of creation: Dec 2005
Date of revision:
Handle: RePEc:ave:wpaper:272005

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Keywords: US antitrust policy; EU competition policy; European Union; Economic governance; regulation;

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  1. McCurdy, Charles W., 1978. "American Law and the Marketing Structure of the Large Corporation, 1875–1890," The Journal of Economic History, Cambridge University Press, vol. 38(03), pages 631-649, September.
  2. Libecap, Gary D, 1992. "The Rise of the Chicago Packers and the Origins of Meat Inspection and Antitrust," Economic Inquiry, Western Economic Association International, vol. 30(2), pages 242-62, April.
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Cited by:
  1. Annette Bongardt, 2005. "Competition Policy and EU Governance," Working Papers de Economia (Economics Working Papers) 28, Departamento de Economia, Gestão e Engenharia Industrial, Universidade de Aveiro.
  2. Alvaro Montenegro García, 2007. "Fundamentos de la política de la competencia," DOCUMENTOS DE ECONOMÍA 003930, UNIVERSIDAD JAVERIANA - BOGOTÁ.

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