Posted by Social Science Research Network
The Social Contract at the Basis of Competition Law
By Michal S. Gal (University of Haifa)
Abstract: Competition law constitutes an important part of the social contract that stands at the basis of market economies, which conceptualizes the relationship between the state and its citizens, as well as among citizens, and legitimizes state action. This article seeks to unveil the social contract that stands at the basis of competition laws by shedding light on the assumptions at its basis. It then explores whether these assumptions indeed further the goals of the social contract, namely total and individual welfare. In particular, in light of recent challenges to the welfare effects of market economies, this short article seeks to determine whether equality and inclusive growth goals should play a more pronounced role in the competition laws of developed jurisdictions, and if so, by what means.
Featured News
French Competition Watchdog Raids EPC Groupe
May 20, 2024 by
CPI
Nippon Steel Vice Chairman to Visit US for Key Meetings in U.S. Steel Acquisition
May 20, 2024 by
CPI
Google Pays Damages to US Government in Attempt to Avoid Jury Trial in Antitrust Case
May 20, 2024 by
CPI
Nature’s Miracle and Agrify Terminate Merger Agreement Amid Challenges
May 20, 2024 by
CPI
UK’s AI Safety Institute to Open US Office Amid Growing Calls for Global Collaboration
May 20, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI