Question

Trace the evolution of antitrust laws and their enforcement in the U.S.A. to the present. Explain the justifications for expanding government involvement in the process. Note the newest theories and thoughts on antitrust in a knowledge-based, global economy。

Answer 1

The evolution of antitrust laws(Competition law) is a law that encourages or seeks to maintain market competition by defining the firm's anti-competitive behavior. Competition rules apply through public and private applications. Competition law is known as the Antitrust Law in the United States for historical reasons and as an antitrust law in China and Russia. Some years ago it became known as the Trade Practices Act in the United Kingdom and Australia. In the EU, this is enshrined in anti-trust and competition laws.

The history of competition law dates back to the Roman Empire. The business practices of the Guilds market and the government are often subject to scrutiny and sometimes severe penalties. Since the 20th century, the rules of competition have become universal. The two most powerful and influential systems for regulating competition are the US Antitrust Law and the EU Competition Act. Competition and international law enforcement networks are established by national and regional competition authorities around the world.

Modern competition laws have been historically established at the national level to promote and maintain fair competition in markets, especially within the territorial boundaries of the states of the country. Competition law usually does not cover extracurricular activities unless it has a significant effect at the national level. States can empower extension jurisdictions in the event of a competition based on a doctrine called Impact. The protection of international competition is governed by international competition agreements. In 1945, during the negotiations before the passage of the General Agreement on Taxation and Trade in 1947, a limited obligation for international competition was proposed in the Charter of the International Trade Organization.