Should We Believe in the Reassuring Nature of the Chicagoan Notion of Competition Law?
Bocconi University - Department of Legal Studies; Ask Research Center
May 24, 2013
Paper presented at VIII Ascola Conference – Regulation and Competition Law The paper will be published in the correspondent edited book, Forthcoming
Bocconi Legal Studies Research Paper No. 2298611
If we wonder about the reasons why current antitrust scholars would like to resist the new regulatory approach to competition law, two lines of arguments arise – that concerning the risk of making mistakes because of enforcers’ ignorance, and that concerning the risk of making mistakes because of enforcers’ permeability to values and political ideas. Limiting enforcers’ ignorance is always appreaciable, especially because – in the end – this limitation amounts to the request of a good division of work between antitrust enforcers and regulators. Differently, the ease with which Chicagoan antitrust law is deemed to be neutral and, hence, preferable to any form of regulation is questionable. Chicagoan antitrust law is technical in its operations, but not in its premises and results and this, I believe, should be taken into account anytime we choose whether to like or dislike the emerging regulatory approach towards competition law.
Number of Pages in PDF File: 33
Keywords: Antitrust, Regulation, Competition law
JEL Classification: K21
Date posted: July 27, 2013