Abstract
All developed market economies have some type of competition/trade practice policy. However, the specific nature of these policies varies widely. For example, cartels are illegal in most but not all countries. In some countries, mergers can be challenged by state authorities. And the abuse of market power is illegal in some nations, but not in others. The U.S. has the longest history of active intervention in marketplace competition through antitrust policy. However, some type of competition policies also exist in even the most laissez-faire nations. The relevant question is not whether to have antitrust/competition policies, but rather what to include in the statutes and how to enforce them.
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Marion, B.W. (1997). Competition and Trade Practice Policies: An Overview. In: Wallace, L.T., Schroder, W.R. (eds) Government and the Food Industry: Economic and Political Effects of Conflict and Co-Operation. Springer, Boston, MA. https://doi.org/10.1007/978-1-4615-6221-4_3
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DOI: https://doi.org/10.1007/978-1-4615-6221-4_3
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