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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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  • 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.

Suggested Citation

  • Stephen Martin, 2005. "U.S. Antitrust and EU Competition Policy: Where has the Former Been, Where is the Latter Going?," Working Papers de Economia (Economics Working Papers) 27, Departamento de Economia, Gestão e Engenharia Industrial, Universidade de Aveiro.
  • Handle: RePEc:ave:wpaper:272005
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    References listed on IDEAS

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    1. Marburg, Theodore F., 1964. "Government and Business in Germany: Public Policy toward Cartels," Business History Review, Cambridge University Press, vol. 38(01), pages 78-101, March.
    2. 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.
    3. 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 242-262, April.
    4. Phlips,Louis, 1983. "The Economics of Price Discrimination," Cambridge Books, Cambridge University Press, number 9780521283946, March.
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    Cited by:

    1. Alvaro Montenegro García, 2007. "Fundamentos de la política de la competencia," DOCUMENTOS DE ECONOMÍA 003930, UNIVERSIDAD JAVERIANA - BOGOTÁ.
    2. 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.

    More about this item

    Keywords

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

    JEL classification:

    • L40 - Industrial Organization - - Antitrust Issues and Policies - - - General
    • L41 - Industrial Organization - - Antitrust Issues and Policies - - - Monopolization; Horizontal Anticompetitive Practices
    • L42 - Industrial Organization - - Antitrust Issues and Policies - - - Vertical Restraints; Resale Price Maintenance; Quantity Discounts
    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
    • L97 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Utilities: General
    • L98 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Government Policy

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