Competition and Innovation: A Non-Zero Sum Approach to Economic Growth

Consumer welfare, which should be the guiding principle of competition policy implementation, is often mistaken for consumer protection.Whereas consumer protection looks to the interests of present consumers, the concept of consumer welfare looks to the long term impacts of a given competition policy and, by extension, the interests of future consumers.The term “consumer welfare,” an economic term of art, refers to the maximization of allocative and productive