The Globalization of Antitrust Law: History and Future

By Aakash Shah (O.P. Jindal Global University)

The United Stated was the first to execute its antitrust statue. Today almost all countries have adopted Competition laws and US antitrust agencies have been interacting with them on a daily basis. For the welfare of many of the nation it has become extremely important for the globalization of antitrust as it (digital platforms like the Facebook and Google) face growing antitrust scrutiny by multiple enforcement regimes all over the world. After globalization, when the competition in the global markets surged, it became necessary for the legislators to regulate the competitive structure of the industries with an aim to protect the interest of the consumers. Anti-trust policies centered promoting consumer welfare would be best suited to advancing desirable aims. There is also a need to work with like-minded agencies-and within multilateral organizations such as the Organization for Economic Co-operation and Development (OECD), the International Competition Network (ICN) to promote the rule of law and the procedural fairness in the antitrust enforcement. The soundness of public policy decision making will play a key role to determine the extent to which the law benefits consumers and the global economy.

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