Competition law

Competition law is a law that stops companies from behaving in an anti-competitive way. Competition law is called antitrust law in the United States, and anti-monopoly law in China and Russia. It used to be called trade practices law in the United Kingdom and Australia. In the European Union, it is called both antitrust and competition law.

Competition Law Media

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  Judge Coke in the 17th century thought that general restraints on trade were unreasonable.

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  Elizabeth I assured monopolies would not be abused in the early era of globalization.

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  Senatorial Round House by Thomas Nast, 1886

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  There is considerable controversy among WTO members, in green and blue, whether competition law should form part of the agreements.

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  Paul Samuelson, author of the 20th century's most successful economics text, combined mathematical models and Keynesian macroeconomic intervention. He advocated the general success of the market but backed the American government's antitrust policies.

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  Robert Bork circa 2005.

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  Scottish Enlightenment philosopher Adam Smith was an early enemy of cartels.

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  The economist's depiction of deadweight loss to efficiency that monopolies cause