Competition. Antimonopoly policy and restriction of competition (most important)

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Competition. Antimonopoly policy and restriction of competition (most important)

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43. Antimonopoly policy and restriction of competition

Antitrust policy - one of the directions of state regulation of the economy, is a system of measures that provide for limiting the monopolization of production and markets in order to enhance competition.

Antitrust policy carried out in the following directions:

1) Limiting the monopolization of the market;

2) Prohibition of mergers of competing companies;

3) Prohibition of establishing monopoly prices;

4) Preservation and maintenance of competition in its civilized forms.

In Western countries, the state seeks to prevent the excessive influence of monopolies and oligopolies in the economy, develops antimonopoly (antitrust) legislation. The most developed is considered to be the US antitrust law.

First Laws, prohibiting monopoly agreements, were adopted in Canada (1889) and the United States (1890). Any agreements or associations aimed at restricting the freedom of fishing, monopolizing any branch of the economy, are recognized as illegal. The creation of monopolies entailed a fine of up to 5 thousand dollars and imprisonment for up to one year

Sherman's law subsequently supplemented, it was amended (in 1914, 1939 and 1950). It began to spread to new activities and new forms of associations and agreements.

Clayton's law (1914) banned agreements to limit the range of contractors, purchase or takeover of firms that entail the destruction of competition, the creation of holding companies and other agreements. Horizontal mergers were prohibited. In 1914, the Federal Trade Commission was formed to combat "unfair" competitive practices and anti-competitive mergers.

Robinson Patman Law (1936) established a ban on restrictive business practices in the field of trade, i.e., activities aimed at undermining, eliminating or preventing competition.

Celler-Kefauver law (1950) prohibition of mergers by acquisition of assets, the notion of illegal merger was clarified. Horizontal and vertical mergers were prohibited

In Western Europe (Belgium - 1935; the Netherlands - 1933; Denmark - 1937) attempts were made to legally control cartel agreements. Cartels were seen as a means of combating "excessive competition", laws were aimed at preventing the abuse of this form of monopoly.

In the Treaty of Rome in Art. 85 and 86 also established the prohibition of monopoly agreements.

All these laws were aimed at ensuring a free market, fair competition, established control over various kinds of agreements.

Author: Ilyina V.N.

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