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Books > Law > Jurisprudence & general issues > Comparative law
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Fairness in Antitrust - Protecting the Strong from the Weak (Paperback, New as Paperback)
Loot Price: R811
Discovery Miles 8 110
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Fairness in Antitrust - Protecting the Strong from the Weak (Paperback, New as Paperback)
Series: Hart Studies in Competition Law
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What drives popular support for state-enforced competition policy?
What is it about antitrust law that garners approval from both the
public and courts, to the point of demonizing large firms convicted
of antitrust offenses? In this book Adi Ayal argues that the
populist roots of antitrust are still with us, guiding sentiment
towards a legal regime that has otherwise shifted towards economic
analysis. Antitrust is very much about fairness and morality; this
book assesses how modern policy has hijacked popular support -
based on traditional conceptions of political and economic power -
to combat market power in narrowly defined micro-markets. Beginning
with history, but delving into moral and political philosophy,
Professor Ayal shows how arguments concerning fairness in antitrust
apply both to monopolists and their victims. Fairness thus requires
a balancing test based on context and respecting the rights of all
parties involved. While traditionally fairness arguments were used
to justify intervention where economic analysis did not, this book
assesses them from first principles, to show that pure efficiency
analysis is flawed from a moral standpoint when the state
intervenes. Protecting weak consumers from strong monopolists may
carry rhetorical weight, but the reality of antitrust is that the
state is much more powerful than almost all firms it regulates.
Protecting the strong from the weak, especially when 'weak'
consumers hold legal power and influence, might very well be a
moral imperative. This book offers a philosophical account of the
conundrum facing competition policy which challenges widely-held
yet often implicit and unfounded beliefs.
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