TOTM
Can Antitrust Promote Competitiveness?
Truth on the Market
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The major Western industrialized nations have experienced dramatically slower economic growth in recent decades. This slowdown has been particularly pronounced in the EU, though the United States has suffered, as well. Regulatory, tax, trade, and energy policy reforms that reduce market distortions and provide incentives for investment, production, and innovation could substantially address this problem.
Recalibrating antitrust law (called competition law overseas) in a manner that promotes the competitiveness of the market economy is also part of the solution. Care must be taken, however, to focus on antitrust reforms that spur growth and innovation, not changes that undermine an efficient competitive process.