Competition Law and Economic Inequality

The gap between the rich and poor is widening across the globe. This book explores whether this major societal challenge of our time can be addressed by the means of competition law. The primary goal of today’s competition law is to ensure that market power does not lead to an inefficient production of goods and services. Nevertheless, even such efficiency-oriented curbing of market power may arguably contribute to the reduction of differences in how much people own and earn. Furthermore, many competition law regimes do take into account distributive considerations too. The chapters investigate the relationship between competition law and economic (in)equality from philosophical, historical, and economic perspectives. Their inquiries concern the conceptual foundations of competition law and doctrinal frameworks of individual jurisdictions, as well as specific problems and markets. As such, the book provides a novel and comprehensive overview of whether and how competition law can contribute to more equality in both developed and developing countries. The book is a must-read for researchers, public officials, judges, and practitioners within the competition law community. It will also appeal to anyone more broadly interested in issues of inequality and economic policy. Volume 29 in the series Hart Studies in Competition Law Contents List of Contributors Introduction: Economic Inequality, Competition and Law I. Setting the Scene II. About this Book PART I: CONCEPTUAL AND EMPIRICAL FOUNDATIONS 1. Competition and Equality: A Republican Account I. Introduction II. The Republican Tradition: Competitive Markets as Catalysts of Greater Equality III. The Egalitarian Tenets of the 'Republican Antitrust' Tradition in the US and in Europe IV. The Decline of the Symbiotic Relationship between Competition and Equality V. Conclusion 2. Competition, Concentration, and Inequality through the Lens of the Theory of Reflexive Modernisation I. Introduction II. Reflexive Modernisation III. The Paradoxical Goals of Competition Policy IV. Applying the Theory of Reflexive Modernisation to New Forms of Concentration in Digital Markets V. Conclusion 3. A Cross-Country Analysis of the Relationship between Competition Law and Economic Inequality I. Introduction II. The Link between Competition Law, Competition, and Inequality III. Data Description IV. Econometric Specifications and Results V. Discussion of Results VI. Conclusion PART II: ECONOMIC INEQUALITY IN DOCTRINES OF INDIVIDUAL JURISDICTIONS 4. Antitrust and Inequality: The History of (In)Equality in Competition Law and Its Guide to the Future I. Introduction II. Main Points and Claims in the Literature III. Observations on the Complexity of the Problem IV. Country/Jurisdiction Studies: How Equality Is Used in the Competition Law V. Integrating Equality VI. The Objections to Including Equality as a Competition Law Value VII. Recommendations VIII. Conclusion 5. Economic Inequality and Abuse of Dominance in EU Competition Law I. Introduction II. Market Dominance, Competition Law, and Inequality III. Constitutional Perspective: Should Economic Inequality be a Relevant Concern? IV. Is Economic Inequality a Relevant Concern under Article 102? V. Conclusion 6. Exploring Legal and Policy Options to Address the Competition-Inequality Nexus: The Case of South Africa I. Introduction II. Unpacking the Competition-Inequality Nexus III. Some Options for Addressing Competition-Inequality Nexus in South Africa IV. Conclusion: What Role for Competition Law and Policy in Reducing Economic Inequality in South Africa? 7. How Concerns of Economic Inequality and Poverty are Reflected in Efficiency-Based Competition Laws: A Developing Country Perspective I. Introduction II. Redistributive Effects of Competition Law and Implications for Developing Countries III. Ways of Reflecting Economic Inequality and Poverty Concerns in Competition Law and Its Enforcement IV. Reflecting Economic Inequality and Poverty in Vietnam's Competition Law V. Vietnam's Experience and Its Transferability to Developed Countries VI. Conclusion PART III: SPECIFIC PROBLEMS AND MARKETS 8. Network Externalities, Income Inequality and the Role of Competition Law I. Introduction II. Interventions to Reduce Inequality: Ex Post Redistribution through Taxes versus Ex Ante Prevention through Law III. Network Externalities and Lock-In Effects IV. Case Law Analysis and Policy Suggestions V. Conclusion 9. Competition Law, Inequalities and Healthcare: Insights from EU and National Frameworks I. Introduction II. Framing Healthcare Access and Affordability in Competition and Competition Policy III. The EU Competition Law Framework and Healthcare Access and Affordability IV. Experiences from England: Competition in Healthcare V. Conclusion 10. Foregrounding Distributive Justice in European Labour Antitrust I. Introduction II. The Monopoly Analysis of Collective Bargaining III. The Current Approach to the EU Labour Exemption IV. Rethinking the Legal Economics of Collective Bargaining and Growth V. Mechanisms to Limit Distributive Backfiring in a 'Second-Best' World VI. Conclusion Bibliography Index "The gap between the rich and poor is widening across the globe. This book explores whether this major societal challenge of our time can be addressed by the means of competition law. The primary goal of today's competition law is to ensure that market power does not lead to an inefficient production of goods and services. Nevertheless, even such efficiency-oriented curbing of market power may arguably contribute to the reduction of differences in how much people own and earn. Furthermore, many competition law regimes do take into account distributive considerations too. The chapters investigate the relationship between competition law and economic (in)equality from philosophical, historical, and economic perspectives. Their inquiries concern the conceptual foundations of competition law and doctrinal frameworks of individual jurisdictions, as well as specific problems and markets. As such, the book provides a novel and comprehensive overview of whether and how competition law can contribute to more equality in both developed and developing countries. The book is a must-read for researchers, public officials, judges, and practitioners within the competition law community. It will also appeal to anyone more broadly interested in issues of inequality and economic policy"-- Provided by publisher