Although it is commonly assumed that consumers benefit from the application of competition law, this is not necessarily always the case. Economic efficiency is paramount; thus, competition law in Europe and antitrust law in the United States are designed primarily to protect business competitors (and in Europe to promote market integration), and it is only incidentally that such law may also serve to protect consumers. That is the essential starting point of this penetrating critique. The author explores the extent to which US antitrust law and EC competition law adequately safeguard consumer interests. Specifically, he shows how the two jurisdictions have gone about evaluating collusive practices, abusive conduct by dominant firms and merger activity, and how the policies thus formed have impacted upon the promotion of consumer interests. He argues that unless consumer interests are directly and specifically addressed in the assessment process, maximization of consumer welfare is not sufficiently achieved. Using rigorous analysis he develops legal arguments that can accomplish such goals as the following: - replace the economic theory of 'consumer welfare' with a principle of consumer well-being; - build consumer benefits into specific areas of competition policy; - assess competition cases so that income distribution effects are more beneficial to consumers; and - control mergers in such a way that efficiencies are passed directly to consumers. The author argues that, in the last analysis, the promotion of consumer well-being should be the sole or at least the primary goal of any antitrust regime. Lawyers and scholars interested in the application and development and reform of competition law and policy will welcome this book. They will find not only a fresh approach to interpretation and practice in their field - comparing and contrasting two major systems of competition law - but also an extremely lucid analysis of the various economic arguments used to highlight the consumer welfare enhancing or welfare reducing effects of business practices.
In terms of economics, the twenty-first century promises to be one of experiments and mixed economies that display features of both a private enterprise market and an intrusive government sector. To fully understand this coming trend, William Hixson presents this study of the U.S. economy since World War I and its experiments with mixed economics. Hixson describes how the largely laissez-faire economy prior to 1929 was so structured to make a crisis of illiquidity and overindebtedness inevitable, and how the mixed economy that has prevailed since World War II is structured to result in a similar crisis. His work challenges the generally accepted views of both U.S. and Marxist economists. Following a brief introduction that outlines Hixson's approach and theoretical framework, the book begins with a seven-chapter study of the basic operating principles and procedures of a laissez faire economy. The next three chapters examine the Great Crash of 1929 and how it was a predictable outcome of the U.S. economy's operation in a laissez-faire mode. A set of four chapters then analyze the emergence of the government sector as an increasingly significant factor, and the evolution and institutionalization of mixed economy. The last set of chapters considers the past four decades of a mixed economy and why it lacks long-term viability, while the concluding two chapters suggest changes in operating principles and financial practices to make the mixed economy a viable one. This work will be a valuable resource for professionals involved in all types of financial and investing fields, as well as for students and scholars of economics and national economies.
Modern adult life revolves around monumental purchases such as a house, a car, and a deluge of other items that almost universally require entering a formal interest bearing debt obligation. As such, understanding the governing mathematical equations that dictate these interest bearing debts is critical to a practical education. This book intends to provide a basic mathematical understanding of the underlying rules of interest bearing debt taking no prior understanding of mathematics for granted. This book is tailored to take the student all the way from addition to continuous compounding interest in the least painful and most efficient path possible. The mathematics of interest is not a hard subject and I prove this through an easy to read and obvious approach. I have written this book with the following type of reader in mind; The fresh on their own young adult entering a world of credit cards and student loans, The new home buyer bewildered by the fast and seemingly secret world of interest bearing loans, The debtor well above their head in obligations who would like to know why they never seem to pay off their debt by paying the minimum payment. It is my sincerest hope that this book helps you with your needs.
"Based On An Incredible True Story" Shelton Jerome Holloway, A Mentally Retarded Male With An I.Q. Below 30, Is Currently Serving A Life Sentence For The Rape And Murder Of A 16 Year Old Fellow Student, Patricia Ann Hannah. Patricia Hannah Was Last Seen Walking From A High School Dance On April 11th, 1987. It Was Rumored That The Actual Murderer (s) Removed Her Organs For Illegal Organ Sale.
In The Theory of Value, Capital and Interest, Branko Horvat puts forward a new economic theory, relevant to real-world economics. This radical and innovative book deals with the economy as a system which includes producers, consumers and a social regulating agency, rather than simply as an aggregate of individuals.
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