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Competition policy, sustainability, and inclusive wealth

Author

Listed:
  • McLaughlin, Eoin
  • Moro, Mirko
  • de Vries, Frans P.

Abstract

The regulatory shift by competition and antitrust authorities, allowing limited industry collusion in sustainability-related investments to align markets with broader environmental and social objectives, suggests a re-evaluation of competition as a mechanism for promoting collective welfare. Drawing on Adam Smith's classical works as presented in The Wealth of Nations and The Theory of Moral Sentiments, this paper explores this issue through a historical lens while at the same time showing how this innately connects to the established literature on sustainable development, in particular justice and inclusive wealth. Combined, we discuss the role of modern competition policy in adjudicating and evaluating trade-offs in societies' overall welfare function that comprises negative externalities and natural capital.

Suggested Citation

  • McLaughlin, Eoin & Moro, Mirko & de Vries, Frans P., 2025. "Competition policy, sustainability, and inclusive wealth," Accountancy, Economics, and Finance Working Papers 2025-04, Heriot-Watt University, Department of Accountancy, Economics, and Finance.
    • Handle: RePEc:zbw:hwuaef:320415
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    More about this item

    Keywords

    Wealth of Nations; Justice; Investment collusion; Antitrust; Sustainable development;
    All these keywords.

    JEL classification:

    • B21 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Microeconomics
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • K21 - Law and Economics - - Regulation and Business Law - - - Antitrust Law
    • L41 - Industrial Organization - - Antitrust Issues and Policies - - - Monopolization; Horizontal Anticompetitive Practices
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development

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