By: Simon M. Mutungi, Ph.D. (African Antitrust)
Competition law, originally known as antitrust law, traces its roots back to 19th century North America. During this time, large corporations would enter into legal agreements, forming trusts to consolidate their assets and collaborate as a unified entity to maximize profits at the expense of consumers. To illustrate this concept, imagine being a child in kindergarten, selecting the biggest and strongest classmates to ensure victory in a tug-of-war match even before it begins.
John D. Rockefeller, a prominent figure in modern history, epitomized this practice by establishing Standard Oil, a trust that controlled approximately 90 percent of America’s oil refining capacity. With such dominance, Rockefeller could dictate oil prices and prioritize profits over product quality, with little concern for competition. Recognizing the harmful effects of these monopolistic practices on consumers and the economy, neighboring Canada enacted the world’s first competition law in 1889, followed by the United States in 1890, leading to the term “Antitrust” law.
Fast forward 134 years, Uganda has finally embraced this crucial regulatory framework with the recent presidential approval of the Competition Act 2023. Prior to this, Uganda primarily relied on sectoral and regional laws to address competition issues. The introduction of the Competition Act signifies a significant step forward in Uganda’s economic legislation, aimed at fostering a fair business environment and enhancing consumer welfare.
This editorial serves as a primer on competition law, tailored for businesses and individuals unfamiliar with the concept, within the context of Uganda’s new legislation…
Featured News
FTC to Approve Exxon’s $64 Billion Deal with Pioneer Resources, Excludes
May 1, 2024 by
CPI
UK Competition Watchdog Raises Alarm Over Nvidia’s ARM Takeover
May 1, 2024 by
CPI
Sen. Klobuchar Urges Regulators to Probe Collusion in Health Care Pricing
May 1, 2024 by
CPI
Multiple States Join Tennessee’s Antitrust Lawsuit Against NCAA Over NIL Rules
May 1, 2024 by
CPI
NY AG Joins Suit Challenging NCAA’s Restrictions on Student Athlete NIL Rights
May 1, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI