Antitrust in Europe

This book provides a new analytical framework for legal problems concerning the economic order of the European Union. In order to determine the remaining scope for national economic sovereignty, and the improvement of the economic order of the Community itself, the focus of the book is the contentious relationship between competition and industrial policy under European law. The theoretical perspective used is based on a comparison between the concepts of the Treaty as an economic constitution and as a political constitution. On this basis, the convergence of competition and industrial policy at the Community level is explained as the result of the rationalisation of public policy, and the reduction of the economic independence of the member states. The study concludes that the market orientation of the European Union is not in doubt, but that a clear link remains to be established between the legitimacy of public intervention in the economy and the distribution of power in the Community system.

Protecting economic competition has become a major objective of government in Western Europe, and competition law has become a central part of economic and legal experience. The competition law of the European Union has played a key role in the success of European integration during the last four decades, and it is likely to do so in the future. In recent years, national competition laws have also become increasingly important, often creating tensions between national-level and European-level regulation. Yet, despite its importance, images of European experience with competition law often remain vague and are sometimes dangerously distorted. This book examines European experience in protecting competition, analysing its dynamics, revealing its importance and highlighting the political and economic issues it raises.

This book provides the first detailed examination of how private individuals and companies can enforce their rights under competition law against other private parties in the EU and UK. It provides a comprehensive analysis of the legal basis for private antitrust enforcement both under EC and the new UK law, and of the available procedures and remedies. The book then goes on to systematically survey all of the key issues of law and practice that arise in private antitrust litigation in the USA, such as locus standi, antitrust injury, methods of proof of damage, types of damage for which compensation is recoverable, and the principles of antitrust damage calculation. In each case, the author draws upon his experience of such litigation as a practitioner in the USA to set out detailed practical conclusions as to how the same issues should be addressed in the EU and UK.

This revisionist analysis of antitrust history and policy argues that a practical government policy, not a doctrinaire and unrealistic set of rules, is necessary to preserve competition. Economic theories, such as the "Chicago school," that promulgate unfettered competition and identify consumer welfare as the primary objective of antitrust policy, far from being scientifically valid, are an intellectual scandal. Antitrust policy in this country has been flawed from the outset by historical misperceptions, market malfunctions and misguided teaching of economic theory. The author proposes that we look to Europe as a model for effective antitrust policy and legislation.

This detailed analysis of the Competition procedures of the European Community provides the most up-to-date available account of the relevant rules and will be an invaluable source of reference for all lawyers involved in competition proceedings before the European authorities. As a practical guide to procedure, it focuses upon the work of the Commission and contains many useful insights into the approach currently being adopted by the Commission's lawyers. No challenge to the Commission should be made without first referring to this volume.

Firmly established as one of the leading texts in the area, EC Competition Law has been comprehensively updated and revised for this new third edition. Its clear, succinct, and yet highly authoritative coverage will ensure its continued popularity amongst practitioners, academics and students alike. This much acclaimed book is part of the Oxford European Community Law Series.