Global Focus and Niche Strategies

Witt, Alessa; Carr, Chris

doi:10.4324/9780429316050-12

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“…From the 1970s onwards, the Chicago and post-Chicago antitrust paradigms started to disparage concerns about equality of opportunity and distributive effects of economic concentration as 'antitrust populism'. 161 With the shift towards the so-called 'more economic approach' in the late 1990s and early 2000s, 162 the egalitarian impetus of competition law also started to dwindle in Europe. This section seeks to answer a simple question: What has triggered this decline of the egalitarian, republican dimension of antitrust law?…”

Section: The Decline Of the Symbiotic Relationship Between Competitio...mentioning

confidence: 99%

Competition and Equality: A Republican Account

Deutscher¹

2022

Competition Law and Economic Inequality

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This chapter contributes to the growing literature on competition, competition law and (in)equality by shedding light on the conceptual foundations of the relationship between competitive markets and equality. In so doing, the chapter makes four contributions to the literature. First, it proposes an intellectual history of the relationship between equality and competition in liberal economic and political thought about markets. It traces the idea that competitive markets promote equality back to early liberal 17 th and 18 th century thinkers who celebrated the emergence of competitive markets because of their conduciveness towards greater socio-economic and political equality and freedom. This egalitarian understanding of competitive markets, the chapter argues, was deeply rooted in a republican notion of economic liberty as non-domination and independence. Second, the chapter traces how this egalitarian and republican understanding of economic liberty and competition put the concern about the adverse effect of concentrated economic power on equality of opportunity and wealth at the heart of the formative era of US antitrust and the Ordoliberal foundations of EU competition law. Third, the chapter describes how the rise of the Chicago School and the consumer welfare standard displaced this republican understanding of economic liberty and competition with a narrow negative understanding of economic liberty that is largely indifferent about inequalities of economic opportunities, power, and wealth. Fourth, the chapter explores three pragmatic avenues to realign antitrust law with the republican ideal of economic liberty with a view to reincorporating concerns about equality of opportunity and distributive equality into antitrust analysis. Refrenate coemptiones istas diuitum, ac uelut monopolii exercendi licentiam.Suffer not thies ryche men to bye vp all, to ingrosse and forstalle, and with theyr monopolye to kepe the market alone as please them. 1

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Section: The Decline Of the Symbiotic Relationship Between Competitio...mentioning

confidence: 99%

Competition and Equality: A Republican Account

Deutscher¹

2022

Competition Law and Economic Inequality

View full text Add to dashboard Cite

show abstract

Global Focus and Niche Strategies

Cited by 1 publication

References 0 publications

Competition and Equality: A Republican Account

Competition and Equality: A Republican Account

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