Antitrust, Economics, and Innovation in the Obama Administration

This article is part of a Chronicle. See more from this Chronicle Joshua Wright, Nov 25, 2009 The strength of antitrust doctrine has been its ability to incorporate economic thought and empirical evidence over time. The consumer benefits from that incorporation are well known and uncontroversial. But change in economic thought can be slow. And […]

Schumpeterian Competition and Antitrust

Herbert Hovenkamp, Nov 01, 2008 Joseph Schumpeter´s vision of competition saw it as a destructive process in which effort, assets, and fortunes were continuously destroyed by innovation. This endless process displaced older technologies in order to make way for new ones, but led to economic growth far greater than more stable, conservative alternatives. Schumpeter´s vision […]

Enforcement Challenges of China’s Antimonopoly Law

This article is part of a Chronicle. See more from this Chronicle Lester Ross, Aug 11, 2008 China’s new Antimonopoly Law should generally be welcomed as an important milestone on the path of China’s transition from a centrally planned, largely state-owned economy to a market-based, predominantly private-owned economy. China is following the path of more […]

Banana Trees and Open Competitive Markets

This article is part of a Chronicle. See more from this Chronicle Sean Heather, Jeremie Waterman, Aug 11, 2008 In preparing to write this piece on the Chinese Antimonopoly Law, one of us was reminded of a recent visit to a botanical garden. Among the collection of meticulously cared for plants was one extremely bent […]

Innovation Markets after Genzyme/Novazyme

This article is part of a Chronicle. See more from this Chronicle Richard Gilbert, Jul 12, 2008 The U.S. Federal Trade Commission alleged adverse effects on innovation in about forty percent of all merger challenges between 1996 and mid-2008. The percentage was much higher for challenges in industries with unusually high research and development intensity, […]

Competition and Innovation Policy

This article is part of a Chronicle. See more from this Chronicle Philip Lowe, Jul 12, 2008 Innovation and competition go hand in hand. Innovative markets are competitive markets and innovative companies succeed in them. In the European Commission, as in competition authorities across the world, our focus is on ensuring that this happens in […]

The EC’s Sector Inquiry on Pharmaceuticals

This article is part of a Chronicle. See more from this Chronicle Luc Gyselen, Feb 14, 2008 Since the entry into force of Regulation 1/2003 on May 1, 2004, the Commission has already launched four comprehensive sector inquiries on the basis of Article 17. They concerned, respectively, energy, retail banking, and business insurance (June 2005) […]

Competition Policy in Europe: Harming Incentives to Innovate

This article is part of a Chronicle. See more from this Chronicle Daniel Spulber, Sep 18, 2007 The European Court of First Instance, through its decision in Microsoft v. Commission, dealt a one-two punch to incentives to innovate. First, by penalizing Microsoft for bundling its Media Player with Windows, the court will make companies reluctant […]

The Economics of State Aid Control: Some Remarks

Mathias Dewatripont, Nov 01, 2006 This short comment discusses the rationale for State aid control at the level of the European Community and then turns to the State Aid Action Plan and its application to aid to Research, Development, and Innovation. It discusses the merits of a refined economic approach for better targeting purposes and […]