ICLE Affiliate Thibault Schrepel on European Competition Law Slowing Innovation in National Review
ICLE Affiliate Tahibailt Schrepel recently published a paper titled, “The European Commission Is Undermining R&D and Innovation: Here’s How to Change It.” It was picked up and commented on by the National Review:
A recent study from Thibault Schrepel explained this point, showing how European competition law dramatically slows the pace of innovation by curtailing sanctioned firms’ investments in research and development. Again, hobbling bigger and stronger rivals will benefit firms that are less efficient and less profitable, but it hurts consumers by discouraging fair competition, raising prices, and slowing the pace of innovation. And that, ultimately, is what’s wrong with European competition policy. As Senator Mike Lee observed, “appropriate competition policy should serve the interests of consumers and not be used as a vehicle by competitors to punish their successful rivals.” Hopefully someday soon our European friends will realize that fundamental truth, because their current version of competition policy is hurting consumers.