The dialectics of competition law: sketching the Ordo-Austrian approach to antitrust

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Abstract

This paper explores the qualitative (deontological) approaches to the phenomenon of economic competition, synthesizing the Ordoliberal and the Austrian perceptions of antitrust economics, policy and law. It critically addresses the main normative motto of the contemporary antitrust, embedded in the ethos of consumer/total welfare, as well as the methodological reduction of competition policy to the empirical analysis. Not contesting the paramount role of economics in the realm of antitrust, it demonstrates why the phenomenon of competition cannot be narrowed down to its welfare-generating function. By comparing the regulatory mechanisms of the competitive process in the real economy and sports it depicts some potential methodological analogies, between the two realms.

Original languageEnglish
Pages (from-to)355-384
Number of pages30
JournalWorld Competition: Law and Economic Review
Volume35
Issue number2
Publication statusPublished - 2012

Keywords

  • goals of competition law and policy
  • ordoliberalism
  • Austrian economics
  • competition on the merits
  • competition law

Cite this

Andriychuk, O. (2012). The dialectics of competition law: sketching the Ordo-Austrian approach to antitrust. World Competition: Law and Economic Review, 35(2), 355-384.