The Political Economy of International Trade Law: Essays in Honor of Robert E. Hudec

By Daniel L. M. Kennedy; James D. Southwick | Go to book overview
Save to active project

COMMENT
Harmonizing global merger standards*
E. THOMAS SULLIVAN

In their interesting essay on competing merger standards and the prospects for international cooperation, my colleagues Professors Dan Gifford and Robert Kudrle argue that there should be one global antitrust standard for merger enforcement throughout the world and that ultimately should be an efficiency standard based on total surplus.1 I agree.2 But I am not optimistic that many of the nation-states that enforce competition policy today will soon move toward a harmonized global competition standard, given the dynamic political differences and customs that exist in the sixty countries that currently conduct their own antitrust investigations.3

Since the League of Nations after the First World War and the Havana Charter after the Second World War, there has been an effort to fashion a unified competition standard.4 The reasons vary why international efforts have failed, but, to be sure, they center around different political and cultural values and where, on the continuum of development, each country finds itself. For example, the United States promotes, through its merger laws, consumer protection by objecting to mergers that increase concentration, promote cartel activity, facilitate collusion, or increase higher prices to consumers.5 On the other hand, the European Union is concerned with leveraging by dominant firms that will injure medium and small firms.6 Less developed countries are concerned that they will be left out completely from the new, emerging global competition.7

Although the Gifford and Kudrle essay envisions an efficiency standard on a global scale, it rests on subjective information as to the underlying political

____________________
*
Appreciation is extended to Janelle Ibeling for her research assistance.
1
Daniel J. Gifford and Robert T. Kudrle, this volume supra at pp. 208–247. (The authors note, however, that in the shorter term a consumer surplus standard has greater political appeal.) See generally Rebel Oil Co. v. Atlantic Richfield Co., 51 F. 3d 1421 (9th Cir. 1995).
2
Daniel J. Gifford & E. Thomas Sullivan, Can International Antitrust Be Saved for the Post-Boeing Merger World?, 45 Antitrust Bull. 55 (2000).
3
Wall Street J., Oct. 27, 2000, atA17.
4
Russell J. Weintraub, Competing Competition Laws:Do We Need a Global Standard?, 34 New Eng. L. Rev. 27 (1999).
5
See generally IV Phillip Areeda & Donald F. Turner, Antitrust Law 907 at 25–26 (1980).
6
Aerospatiale-Alenia/de Havilland, 1991 O. J. (L 334) 42.
7
Weintraub, supra note 4, at 34.

-248-

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
Loading One moment ...
Project items
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

Cited page

Bookmark this page
The Political Economy of International Trade Law: Essays in Honor of Robert E. Hudec
Table of contents

Table of contents

Settings

Settings

Typeface
Text size Smaller Larger
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

While we understand printed pages are helpful to our users, this limitation is necessary to help protect our publishers' copyrighted material and prevent its unlawful distribution. We are sorry for any inconvenience.
Full screen
/ 696

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.

Are you sure you want to delete this highlight?