Given the increase in large scale mergers throughout the world, this book addresses the growing problem of restricted competition through collusion and the perennial debate surrounding the use of government subsidies for industries to further national interests.The aims of the book are threefold; firstly, to elucidate the antecedents of competition policy in the US and Europe and to demonstrate how far a convergence of principles has developed. Secondly, to outline the theory of industrial organisation as a major tool to devise an appropriate policy, and thirdly, to discuss the practice of competition policy in the US, individual European countries and the EC as a whole, in terms of collusion, mergers and vertical restraints. Manfred Neumann comprehensively explores the economic arguments that justify the need for competition policy. He considers the historical development of competition policy and the relationship between competition policy and the objectives of governmental policy as a whole. In conclusion, he argues that competition policy should be regarded as a constituent part of economic and social policy.This enlightening and comprehensive book will be of great value to students, researchers and practitioners of law, corporate strategy and industrial and political economics.
The late Manfred Neumann, formerly Professor Emeritus of Economics, University Erlangen-Nrnberg, Germany
'Competition Policy is the only book, of which I am aware, that combines an informed analysis of competition policy in both the United States and Europe with the analytical tools from industrial organization that are needed to understand each topic. Manfred Neumann is one of the leading industrial economics scholars in Europe, and he has done those of us who teach industrial economics a great service by writing this book.'
Dennis C. Mueller, University of Vienna, Austria
'With the publication of Competition Policy, Manfred Neumann breaks new ground. He synthesizes a mixture of historical, theoretical and policy perspectives that only an experienced and accomplished scholar can provide. Most importantly, Neumann manages to combine economic precision with a text that is interesting and thought-provoking. His unique and novel approach to understanding and analyzing competition policy will make this required reading to all scholars, policymakers and students concerned with the subject.'
David B. Audretsch, Indiana University, Bloomington, US and Otto Beisheim School WHU, Germany
'Competition Policy touches on a burning issue which was with us yesterday, which pervades today's discussions and which will, no doubt, be with us for a long time to come.'
Karl W. Roskamp, Wayne State University, US