Description

The development of competition law in the EU can be explored through three interrelated perspectives: the extent to which controversies in economic thinking affect the design of the law; how changing political visions about the objectives of competition law have caused shifts in the interpretation of the rules; and the institution in charge of applying the rules. The economic and political debates on competition law show that it is a contested terrain, and the way courts and competition authorities apply the law reflects their responses to the objectives and economics of competition law. By characterising the application of competition law as a continuous response to policy and economic debates, the author casts fresh perspectives on the subject. Written with competition law students in mind, Monti sets out economic concepts in a non-technical manner and explores the policy dimension of competition law by referring to key cases and contemporary policy initiatives.