The Development of Competition Law
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The Development of Competition Law Global Perspectives

Global Perspectives

  • ASCOLA Competition Law series

Edited by Roger Zäch, Andreas Heinemann and Andreas Kellerhals

This innovative book discusses the global character of competition law focusing on three interrelated perspectives; firstly, the impact of economics on competition policy; secondly, the competition law experience in selected countries (USA, EU, Japan, India, China, Brazil, transition countries) and how the law has adapted to the political, economic, geographic and cultural environment; and thirdly, the process of internationalisation and convergence of competition law.
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Chapter 12: Competition Law de Lege Ferenda

Daniel Zimmer

Extract

12. Competition law de lege ferenda Daniel Zimmer* In this chapter, I will deal – in brief – with four questions: 1 2 3 4 Where do we stand? Where should we be going? What is the role of economics in competition policy? What has to be done right now? 1 WHERE DO WE STAND? AN ATTEMPT TO DRAW A CONCLUSION The chapters presented in this book provide an excellent overview of the development of competition policy and law in the past two decades. Looking at them all together, we may draw some conclusions. The competition principle spreads across the world. From the United States of America, where the legislation against restraints of trade was initiated with the Sherman Act in 1890, the principles of competition law have been brought to Japan and Germany in the late 1940s – certainly not only for the sake of a free and competitive economy, but – in the beginning – also in order to disempower existing economic structures.1 The European Economic Community, which formed its competition rules in the 1950s, had – with the creation of a common market and the economic advantages of it – already other objectives.2 The Brazilian legislation dates from the same period. India and other important economies followed * Professor of Law, University of Bonn, Institute for Commercial Law, Bonn, Germany. 1 See for the Japanese Law Hayashi, S. (2008), ‘The goals of Japanese competition law’ in J. Drexl, L. Idot and J. Monéger (eds) Economic Theory and Competition Law, 68; for the German Law...

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