Competition vs. property rights: American antitrust law, the Freiburg School and the early years of European competition policy
AbstractThe goal of the paper is to investigate the extent of the influence of American antitrust tradition on the foundation and early years of European competition policy. This as part of a wider research program aiming at assessing the role of economic theory in the development of antitrust law and policy. My argument may be summarized in four propositions. First, by taking into account what I call the “competition versus property rights” dichotomy, it turns out that the economists’ contribution to the historical evolution of US antitrust law has been smaller than usually believed. Second, as far as the foundation of EEC competition policy is concerned, the influence of the American antitrust tradition has, again, been less than what is commonly claimed. Third, a crucial role on the birth of EEC antitrust has been played by a law and economics argument based on the constitutional standing of competition rules, an argument put forward by the highly influential Freiburg School of Ordoliberalism. Fourth, the ordoliberal origin of EEC competition rules, when combined with the Community’s integration goal, helps explain why the impact of the “competition versus property rights” dichotomy on European antitrust law has been limited and, contrary to the US, always solved more favorably to the “competition” pole than to the “property rights” one.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 33807.
Date of creation: 2008
Date of revision:
Publication status: Published in Journal of Competition Law and Economics 4.5(2009): pp. 747-786
Antitrust; Freiburg School; Ordoliberalism; property rights; competition law;
Find related papers by JEL classification:
- B21 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Microeconomics
- K21 - Law and Economics - - Regulation and Business Law - - - Antitrust Law
- B13 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Neoclassical through 1925 (Austrian, Marshallian, Walrasian, Stockholm School)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Vanberg, Viktor J., 2004. "The Freiburg School: Walter Eucken and Ordoliberalism," Freiburg Discussion Papers on Constitutional Economics 04/11, Walter Eucken Institut e.V..
- Kovacic, William E, 1992. "The Influence of Economics on Antitrust Law," Economic Inquiry, Western Economic Association International, vol. 30(2), pages 294-306, April.
- Hazlett, Thomas W, 1992. "The Legislative History of the Sherman Act Re-examined," Economic Inquiry, Western Economic Association International, vol. 30(2), pages 263-76, April.
- J. Bradford De Long, 1990. "In Defense of Henry Simon's Standing as a Classical Liberal," Cato Journal, Cato Journal, Cato Institute, vol. 9(3), pages 601-618, Winter.
- Goldschmidt, Nils, 2004. "Alfred Müller-Armack and Ludwig Erhard: Social Market Liberalism," Freiburg Discussion Papers on Constitutional Economics 04/12, Walter Eucken Institut e.V..
- Motta,Massimo, 2004. "Competition Policy," Cambridge Books, Cambridge University Press, number 9780521016919, October.
- Marc Deschamps, 2013. "L'articulation économie, droit et politique dans la pensée ordolibérale," GREDEG Working Papers 2013-31, Groupe de REcherche en Droit, Économie, Gestion (GREDEG CNRS), University of Nice Sophia Antipolis.
- Nicola Giocoli, 2012. "Old Lady Charm: Explaining the Persistent Appeal of Chicago Antitrust," INET Research Notes 4, Institute for New Economic Thinking (INET).
- Stephen Martin, 2010. "Economic Arguments in U.S. Antitrust and EU Competition Policy: Two Roads Diverged," Purdue University Economics Working Papers 1257, Purdue University, Department of Economics.
- Giocoli, Nicola, 2008. "Three alternative (?) stories on the late 20th-century rise of game theory," MPRA Paper 33808, University Library of Munich, Germany.
- Giocoli, Nicola, 2012. "Old lady charm: explaining the persistent appeal of Chicago antitrust," MPRA Paper 39244, University Library of Munich, Germany.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ekkehart Schlicht).
If references are entirely missing, you can add them using this form.