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Relaxing whilst doing Competition Law is not an Oxymoron

Archive for September 30th, 2013

The Case for some Formalism in Rules of Competition Law

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Our economist friends often believe that legal formalism is useless.

I have personally complained about the bad influence that formalistic lawyers had in competition proceedings.

Now, “assume” an economist had written the Treaty rules on Competition. This would give something like:

  • Article 101 TFEU: Anticompetitive coordination is unlawful.
  • Article 102 TFEU: Anticompetitive foreclosure is unlawful.

With such loose rules, the economic cost of enforcing the law would skyrocket. And so would the economic cost of complying with the law.

The sole saving achieved would be the ink saved in printing and reprinting the Treaty.

Or why too little legal formalism is economically inefficient.

Written by Nicolas Petit

30 September 2013 at 4:08 pm

Posted in Uncategorized