THE INTERNATIONAL HANDBOOK OF COMPETITION


Competition is a constitutive property of a market economy following immediately from the right of each individual to pursue his or her own interest. Therefore competition policy is a cornerstone of economic policy in a market economy. In fact, following the lead of US antitrust, most industrialized countries now have introduced some kind of competition policy. In particular, in the European Union competition policy has been accorded a constitutional status. As stated in Article 4 of the EC Treaty, the economic policy of the member states and the Community shall be conducted in ‘accordance with the principle of an open market economy and free competition’ and Article 3, lit g, says that competition must not be distorted, either by private restraints or by government interference.

the-international-handbook-of-competition

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Manfred Neumann

Jürgen Weigand

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