Most States, throughout history, have made some attempt to control monopolies. Although in the twentieth century the criterion for control has been ‘the public interest’, this has not always been so. Indeed even in the twentieth century there have been extreme difficulties in defining the term ‘public interest’. In Britain legislation against monopolies goes back to the reign of Elizabeth I. This legislation was under the Common Law and it was not until the passing of the Monopolies and Restrictive Practices (Inquiry and Control) Act of 1948 that specific and far-reaching laws were passed.
KeywordsPublic Interest Fair Trading Competition Policy European Economic Community Established Firm
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