Why Is The Eu Developed Its Own Competition Policy Instruments? Essay

In order to understand the evolvement of the Single Market of the European Union, one has to take the general background into consideration. Therefore, it is important to have a look at the Treaty on European Union (Maastricht Treaty) which gave birth to the creation of the Single Market. Having been the Common Market before the Maastricht treaty, the European Economic Community (EEC) Treaty already clarified the objective of cooperation between member states. Throughout the Single Market, those objectives should be transformed into reality.

Member countries’ laws and regulations should permit authorities to suspend, to an appropriate degree, from competition for public contracts or other public advantages, including

Through the course of this paper I will introduce and discuss the history of the movement towards an actively and engaged antitrust legislation. I will also identify the original and early antitrust laws and how they have influenced the economy, as we know it today. Upon the completion of this paper you will understand who was set to benefit (gain) from anti legislation and who loses under the intentions of the antitrust laws today and in the past.

In considering the international realm, let’s consider the concept of economic treaties. Specifically, let's think about an organization like the European Union (EU). Why was it formed? In addition, what are some of the objectives of the nations that are joining the EU?

Contents 1. 2. 3. 4. 5. 6. 7. Facts ............................................................................................................................. 3 Antitrust Law On Monopolization And Attempting To Monopolize .......................... 7 Economics Of

Antitrust laws are classical examples of adapting tendencies of government to the changing times. The history of competition act, 2002 is a good example of the proverb that the road to hell is paved with good intentions. The Monopolies and Restrictive Trade Practices Act, enacted in the era of restrictive economy found itself to be obsolete and redundant with the opening of Economy in 1991, was vacuum was filled by passage of Competition Act, 2002. Cartels are prohibited by most countries in most of the countries, whether they are domestic or foreign firms. Over the years, international cartels, which comprise firms more than in one country were considered to be illegal,

Another major problem is level of knowledge and understanding of European Union law in reference to free movement for critically describing and comparing the legal regulations. At the same time, other problem aspect is associated with the analysis of related issues of international trade and exchange barriers along with evaluation of Member States monopoly that is also considered in particular research

The competition policy that will impact the business is the Competition Act 1998. There are two main United Kingdom (UK) laws to protect the competition which is known as the Competition Act 1998 and also the Enterprise Act 2002. The Competition Act 1998 is one of the main source of competition policy where it gives the business a modernize plan to identify and compromise with the restriction of business practices and the abusing of the dominant position in the market. The purpose of this act allows to harmonize the competition policy between the United Kingdom (UK) and European Union (EU) competition policy. This act promotes to competing fairly in the marketplace by prohibiting the anti-competitive behavior that occur between businesses.

I agree that the free market would run into serious problems undercutting its sustainability without regulation; however, the free market is as much a creation of the state that is highly influenced by interest groups. Interest groups play an important role in the formation of a regulation. Interest groups help candidates get elected into government. In return, interest groups can lobby for leniencies in policies that serve their interests. For example, the Canadian Association of Petroleum Producers has lobbied the government of pipeline regulation, streaming of Fisheries Act, tax credits, and greenhouse gas regulations (as per Macleans.ca, The 10 lobby groups with most contact). If these private interests didn’t exist, would the general public lobby to increase tax credits to corporations? I don’t believe this is the case.

With the development of the world economy, all countries are natural to trade and communicate with other people, especially their neighbors. Regional economic integration plays a very important role in the post-war period. This essay is aimed to compare the progress of the strategic competition between the European Union (EU) and the North American Free Trade Agreement (NAFTA) and their impacts on the United States. According to members of the integration, implementing of competition policy is equally important as liberalize trade. Both unions are federations, but they differ on the status and impact.

The European Union calls itself “a unique economic and political partnership between 27 democratic European countries” (1) which apparently aims to promote “peace, prosperity and freedom for its 495 million citizens – in a fairer, safer world” (1). While this may be a noble sentiment, in reality the EU is an inefficient, bureaucratic mess. It is my belief that, while the European Union is fundamentally a good idea, it is turning into an undemocratic kleptocracy that will gradually begin to remove our civil liberties while causing great damage to many areas including the environment and society.

In the aftermath of the 1957 Treaty , the European Economic Community (EEC) was established and customs barriers between the member states have been abolished. Member States throughout the Community, can “promote a harmonious development of economic activities, a continuous and balanced expansion, an increased stability, an accelerated raising of the standard of living and closer relations between them”. Therefore, in order for a common market to be established between Member States, the Community enacted some legislative provisions which aimed to a true harmonization of laws; incorporate different legal systems under a basic legal framework. The main issue arising is whether these legal provisions in accordance with the case law, ensured the free movement of goods within this market.

One of the main objectives of the European Union (EU) is the establishment of the internal market, which shall consist of “area without internal frontiers in which the free movement of goods, persons, services and capital is ensured. The internal market is based upon a customs union achieved through the abolition of the imposition of customs duties and charges having an equivalent effect and the prohibition of discriminatory taxes on intra-EU imports. The internal market is enhanced by the provisions on free movement of workers, freedom of establishment, free movement of services, and free movement of capital. Whereas Articles 28 to 30 of the Treaty on the Functioning of the European Union (TFEU) provide for the establishment of an EU common external tariff and the elimination of customs duties, Articles 34 and 35 of the TFEU (with exceptions under Article 36) go further, and prohibit quantitative restrictions and measures having equivalent effect. Taken together, Articles 28 to 32 and 34 to 36 serve to ensure the free movement of goods within the EU and to facilitate the operation of the internal market.

Today, The Single European Market otherwise known as the (Internal Market) grants people and businesses with the privilege to trade and move openly across borders within the EU. This has had a huge impact on the world we live in today it altered the way Europeans live, travel and work also to study and do business. The concept of setting up a European Single market is to bring unity to the EU; this encounters money, goods, people, and services to collaborate freely to arouse competition and trade. The next multi-annual Single Market strategy is booked for adoption in 2007 previous to conception by the commission in 1985; since more areas have been added to the primary list of countries joining this has implemented regulatory and legal barriers this is to sustain to the exclusion of other barriers of an economic. Physical (infrastructure), linguistic cultural or nature.

With the effect of the Single European Act on 1st July 1987, the emergence of European Union (EU) as a common market has essentially been created. The benefits of this act are substantial to European firms, economies, and workers. It eliminates conflicting national regulations and trade barriers, as well as offering firms opportunity to sell their goods to all other EU members (Griffin & Pustay 2005).