Some Evidences of Ordoliberalism in the EU’s Competition Policy
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This is a paper on German ordoliberalism and the competition policy of the European Union in comparison to the U.S. anti-trust law cases. Preventing monopolies and creating a competitive order is the core of ideology and distinct from Anglo-American neoliberalism, but also from social democracy in that it does not point to a huge state. Germany and the EU were heavily influenced by ordoliberalism. As can be seen vividly during the Greek crisis, when the will of orderliberals was carried out, and the some members of the European Union with economic difficulties must move according to the principles of ordoliberalism. Competition policy is guaranteed in the Constitutions of Germany (Grundgesetz für die Bundesrepublik Deutschland, the Basic Law), and the EU is heavily influenced by German ideology. The United States, on the other hand, seeks to prevent monopoly through the Antitrust Law, Clayton Act and Federal Trade Commission Act. In the U.S, there is room for tolerance as a rule of reason. Preventing the possibility of monopoly in information and communications technology (ICT) is not widely different for both the U.S. and the EU. Competition law is a sophisticated device that prevents the possibility of monopoly in a competitive market and induces competition. In general, the EU is committed to protecting competition itself. Key findings of the study reveal rather interesting features of the EU's decisions on competition cases. First, we find that the EU competition courts have more focus on competition rather than market efficiency or consumer welfare. Second, we find that the EU court decisions become more related to efficiency matters for ICT industry which implies that for ICT industry the EU is not quite different from the U.S. court decisions. These findings can be best visualized if we superimpose on the outcome of the decisions a right-angled triangle with its hypotenuse facing downwards.
Abstract
This is a paper on German ordoliberalism and the competition policy of the European Union in comparison to the U.S. anti-trust law cases. Preventing monopolies and creating a competitive order is the core of ideology and distinct from Anglo-American neoliberalism, but also from social democracy in that it does not point to a huge state. Germany and the EU were heavily influenced by ordoliberalism. As can be seen vividly during the Greek crisis, when the will of orderliberals was carried out, and the some members of the European Union with economic difficulties must move according to the principles of ordoliberalism. Competition policy is guaranteed in the Constitutions of Germany (Grundgesetz für die Bundesrepublik Deutschland, the Basic Law), and the EU is heavily influenced by German ideology. The United States, on the other hand, seeks to prevent monopoly through the Antitrust Law, Clayton Act and Federal Trade Commission Act. In the U.S, there is room for tolerance as a rule of reason. Preventing the possibility of monopoly in information and communications technology (ICT) is not widely different for both the U.S. and the EU. Competition law is a sophisticated device that prevents the possibility of monopoly in a competitive market and induces competition. In general, the EU is committed to protecting competition itself. Key findings of the study reveal rather interesting features of the EU's decisions on competition cases. First, we find that the EU competition courts have more focus on competition rather than market efficiency or consumer welfare. Second, we find that the EU court decisions become more related to efficiency matters for ICT industry which implies that for ICT industry the EU is not quite different from the U.S. court decisions. These findings can be best visualized if we superimpose on the outcome of the decisions a right-angled triangle with its hypotenuse facing downwards.
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