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Competition Law in times of Economic Crisis: in Need of Adjustment?

Author: Global competition law centre. Annual conference

Publisher:

Published: 2013

Total Pages: 649

ISBN-13: 9782802743101

Throughout this unprecedented crisis which is hitting all major economies in the EU, the escalation of the Eurozone recession increasingly undermines public confidence in the ability of competitive markets to deliver positive outcomes. A debate on the most appropriate way to enforce competition rules, in light of the crisis, is definitely useful. A "relaxed" stance to competition during difficult periods may be tempting and indeed, this has often been the approach used in the past. However, the enforcement of competition rules is no less important during times of crisis than during normal periods. It has also been argued that, when public resources are stretched to the limit and businesses are struggling to survive, competition authorities should seek to focus their limited resources on those anticompetitive practices which are most detrimental to consumer welfare such as cartels. Indeed, if over-enforcement is perhaps undesirable when the economy is functioning well, it will inevitably become more problematic during an economic downturn. In addition, business managers may be increasingly tempted to resort to anticompetitive practices when faced with economic hardship. This book will appeal to judges and lawyers in competition law, European law, business/corporate law and insolvency law ; the study of European competition law, European institutions, national competition authorities, and companies.

Competition Law in times of Economic Crisis : in Need of Adjustment ?

Author: Jacques Derenne

Publisher: Primento

Published: 2013-12-02

Total Pages: 352

ISBN-13: 2802745468

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Throughout this unprecedented crisis which is hitting all major economies in the EU, the escalation of the Eurozone recession increasingly undermines public confidence in the ability of competitive markets to deliver positive outcomes. A debate on the most appropriate way to enforce competition rules, in light of the crisis, is definitely useful. A “relaxed” stance to competition during difficult periods may be tempting and indeed, this has often been the approach used in the past. However, the enforcement of competition rules is no less important during times of crisis than during normal periods. It has also been argued that, when public resources are stretched to the limit and businesses are struggling to survive, competition authorities should seek to focus their limited resources on those anticompetitive practices which are most detrimental to consumer welfare such as cartels. Indeed, if over-enforcement is perhaps undesirable when the economy is functioning well, it will inevitably become more problematic during an economic downturn. In addition, business managers may be increasingly tempted to resort to anticompetitive practices when faced with economic hardship. This book will appeal to judges and lawyers in competition law, European law, business/corporate law and insolvency law ; the study of European competition law, European institutions, national competition authorities, and companies.

Competition Law in Times of Crisis

Author: Conor Talbot

Publisher: Cambridge Scholars Publishing

Published: 2018-12-11

Total Pages: 238

ISBN-13: 1527523152

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This book examines the role and utility of competition law within the EU’s legislative and regulatory dialogue, using its response to crisis conditions as a test of its aims and abilities. As such, its main conclusion is that competition policy acts as a forum for debate as to the direction of the European integration project, while competition law can serve as a tool for aiding in the implementation of broader policy objectives. The analysis here explores the role of the general economic context in the application of competition law, the existence of identifiable baselines applicable in crisis conditions, the ability and role of national competition authorities in applying competition law, and the ways in which the European Commission’s overarching policy goals can influence the application of competition law. The decision to take an empirical approach to this research project stems from a conviction that an investigation into the real world situations faced by firms and consumers should underpin the evaluation of the applicable legal rules. Over the past number of years, the Commission has exerted more and more influence over the development of the regional and global airline industry, and this book identifies the emergence of an apparent overarching aim on the part of the Commission to create a market with a handful of ultra-competitive airlines with international reach serviced by an array of smaller feeder airlines on a regional basis. The study of Irish beef processing, on the other hand, identifies a high level of government involvement in providing the strategic thinking behind a crisis cartel scheme, and then demonstrates how the economic context exerted considerably more pressure on the government and the national court than on the competition authorities involved.

Competition Law in Crisis

Author: Bruce Wardhaugh

Publisher: Cambridge University Press

Published: 2022-08-18

Total Pages: 293

ISBN-13: 1108996213

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A common criticism of the competition rules posed by EU authorities is that they are too inflexible, thereby prohibiting adequate responses to economic and industrial shocks. Competition Law in Crisis challenges this suggestion through an examination of competition responses to crises past and present. With an analysis spanning the response of UK and EU competition authorities to the economic and commercial outfall of the 2008 financial crisis, the COVID-19 pandemic, and potential responses to the climate crisis in the context of post-Brexit British industrial policy, the book argues that relaxing the competition regime is precisely the wrong response. The rigidity of competition rules in the UK and EU has both normative and positive implications for not just the methodology used in competition analysis, but also the role of competition law within the legal order of both jurisdictions. The book concludes with a discussion of the place of the competition in the UK's and EU's legal order.

Competition Law in Crisis

Author: Bruce Wardhaugh

Publisher:

Published: 2022

Total Pages: 0

ISBN-13: 9781108987707

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"For the sake of variety, except when referring to the American regime, we use 'competition' and 'antitrust' interchangeably. We also use the present numbering of the European Treaties' Articles, however, when not possible, the relevant referent should be obvious. This work was first conceived as a work on competition, sustainability and the environment. Indeed, that was the idea which I had when I first approached one of my editors at Cambridge University Press in very early March 2020. Within a few weeks, the focus of my project had changed, to consider the role of competition law in crises more generally. This work was written during the Covid Pandemic and the initial phase of Brexit, as such these crises were on-going when the book went to the publisher (November 2021). Much of the early economic impact of Brexit has been camouflaged by the effects of the Covid crisis, and any response by the UK's Government has been slow. The full economic effects of this episode in the history of the UK (and Europe as a whole) will not be felt for a while, nevertheless we have been able to examine the Government's actions to date"--

FairEconomy. Crises, Culture, Competition and the Role of Law

Author: Philipp Hacker

Publisher:

Published: 2016

Total Pages: 22

ISBN-13:

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This synopsis contains excerpts from and novel introductions to the four chapters constituting “FairEconomy. Crises, Culture, Competition and the Role of Law”, a monograph co-authored and published by the late Wolfgang Fikentscher, Philipp Hacker and Rupprecht Podszun in 2013. In honor and continuation of Wolfgang Fikentscher's unwavering commitment to open access to scholarship, we are thus presenting the most relevant parts and arguments of the book in universally accessible format, with the kind permission of the publisher.In the first chapter, we draw on anthropology and economic theory to show that (i) the chief objective of “the economy” is to fulfill basic human needs and that (ii) it is currently far from achieving this aim. We suggest that, not only but also in response to the financial crises haunting the global economy, a reorientation toward the necessary normative foundations of the economy is in order; a reorientation that includes a commitment to fairness as a key concept to build trust, structure economic interactions, and distribute surplus. We trace legal concepts operationalizing the subjective right to a fair economy in Western legal history in order to show that the economy is never simply natural or emergent, but always instituted by a complex web of legal, political and cultural arrangements that demand particular attention - and readjustments - in times of crises. In the following two chapters, we spell out the content of FairEconomy in competition law and securities regulation, the two crucial domains for the regulation of contemporary economic activity. The final chapter offers perspectives on global institutions for the enforcement of fairness-oriented norms in market transactions.

Competition Law

Author: Richard Whish

Publisher: Oxford University Press

Published: 2021

Total Pages: 1185

ISBN-13: 0198836325

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This online course will give you insights into important compliance topics.

The Evolving Governance of EU Competition Law in a Time of Disruptions

Author: Carlo Maria Colombo

Publisher: Bloomsbury Publishing

Published: 2024-02-08

Total Pages: 360

ISBN-13: 1509951806

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This book develops a timely analysis of the complex trends and transformations emerging in EU competition law in the current turbulent times. Repeated economic crises, the climate emergency, digitalisation, and geopolitical and democratic threats are all having profound societal and economic effects on the EU. In light of its fundamental role in the Treaties, EU competition law has been called upon to play an important role in responding to this state of 'turbulence'. This brings about significant governance and constitutional challenges, firstly by questioning how the governance of EU competition law is being transformed to respond and adapt. Secondly, these crisis-induced transformations probe the logic and constitutional limits of EU competition law within the framework of EU law. This collection brings together EU institutional and competition lawyers to reflect on the governance and constitutional challenges emerging from the post-modernisation evolution of EU competition law against the backdrop of the recent multiple crises in the EU. The essays focus on the substantive and procedural developments across the three main policy areas of EU competition law: antitrust, merger control and State aid. EU constitutional and competition lawyers will be interested in this important new collection.

The Antitrust Paradox

Author: Robert Bork

Publisher:

Published: 2021-02-22

Total Pages: 536

ISBN-13: 9781736089712

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The most important book on antitrust ever written. It shows how antitrust suits adversely affect the consumer by encouraging a costly form of protection for inefficient and uncompetitive small businesses.