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Antitrust in Germany and Japan presents an innovative, comparative analysis of the development and enforcement of two antitrust regimes, illustrating how each was shaped by American occupation strategies and policies following World War II. First imposed in 1947, the antitrust controls in Germany and Japan were the world’s first outside the United States. Those enacted in Japan continue in force, whereas in Germany, following a decade of debate, the occupation legislation was superseded in 1975 by the Law Against Restraints of Competition. This study explores the ironies and errors that led to the enactment of the German and Japanese statutes and emphasizes the unexpected degree of convergence that has occurred during the past fifty years through amendment and practice. It compares in detail the institutional structure and processes for the enforcement of antitrust controls as well as the system of remedies and sanctions available under each statute. It notes the debates in Germany and Japan over the effectiveness of statutes, particularly the still timely debate in 1970s Germany over a proposal for criminal sanctions. Antitrust in Germany and Japan reveals many unexpected and controversial similarities between the two antitrust regimes and demonstrates the extent to which American policy toward Germany determined American policy in Japan not only during presurrender planning but also throughout the occupation. It also challenges the prevailing view of the relative strength of antitrust controls in Germany relative to the weakness of antitrust in Japan. This book will be of interest to corporate lawyers as well as to legal historians and scholars of political economy.
In the wake of World War II, the United States devoted considerable resources to building a liberal economic order, which Washington believed was necessary to preserving not only prosperity but also peace after the war, and antitrust was a cornerstone of that policy. This fascinating book shows how the United States sought to impose its antitrust policy on other nations, especially in Europe and Japan.
A new and urgently needed guide to making the American economy more competitive at a time when tech giants have amassed vast market power. The U.S. economy is growing less competitive. Large businesses increasingly profit by taking advantage of their customers and suppliers. These firms can also use sophisticated pricing algorithms and customer data to secure substantial and persistent advantages over smaller players. In our new Gilded Age, the likes of Google and Amazon fill the roles of Standard Oil and U.S. Steel. Jonathan Baker shows how business practices harming competition manage to go unchecked. The law has fallen behind technology, but that is not the only problem. Inspired by Robert Bork, Richard Posner, and the “Chicago school,” the Supreme Court has, since the Reagan years, steadily eroded the protections of antitrust. The Antitrust Paradigm demonstrates that Chicago-style reforms intended to unleash competitive enterprise have instead inflated market power, harming the welfare of workers and consumers, squelching innovation, and reducing overall economic growth. Baker identifies the errors in economic arguments for staying the course and advocates for a middle path between laissez-faire and forced deconcentration: the revival of pro-competitive economic regulation, of which antitrust has long been the backbone. Drawing on the latest in empirical and theoretical economics to defend the benefits of antitrust, Baker shows how enforcement and jurisprudence can be updated for the high-tech economy. His prescription is straightforward. The sooner courts and the antitrust enforcement agencies stop listening to the Chicago school and start paying attention to modern economics, the sooner Americans will reap the benefits of competition.
The second edition of this book provides a definitive statement of the law relating to UK merger control following the wide-ranging changes to the merger control system being introduced by the Enterprise Act, during the second half of 2003
There is growing consensus among international trade negotiators and policymakers that a prime area for future multilateral discussion is competition policy. Competition policy includes antitrust policy (including merger regulation and control) but is often extended to include international trade measures and other policies that affect the structure, conduct, and performance of individual industries. This study includes country studies of competition policy in Western Europe, North America, and the Far East (with a focus on Japan) in the light of increasingly globalized activities of business firms. Areas where there are major differences in philosophy, policy, or practice are identified, with emphasis on those differences that could lead to economic costs and international friction. Alternatives for eliminating these costs and frictions are discussed, including unilateral policy changes, bilateral or multilateral harmonization of policies, and creation of new international regimes to supplement or replace national or regional regimes.
This study of modern Japan traces the impact of defeat and reconstruction on every aspect of Japan's national life. It examines the economic resurgence as well as how the nation as a whole reacted to defeat and the end of a suicidal nationalism.
This volume explores major developments in Japanese law over the latter half of the twentieth century and looks ahead to the future. Modeled on the classic work Law in Japan: The Legal Order in a Changing Society (1963), edited by Arthur Taylor von Mehren, it features the work of thirty-five leading legal experts on most of the major fields of Japanese law, with special attention to the increasingly important areas of environmental law, health law, intellectual property, and insolvency. The contributors adopt a variety of theoretical approaches, including legal, economic, historical, and socio-legal. As Law and Japan: A Turning Point is the only volume to take inventory of the key areas of Japanese law and their development since the 1960s, it will be an important reference tool and starting point for research on the Japanese legal system. Topics addressed include the legal system (with chapters on legal history, the legal profession, the judiciary, the legislative and political process, and legal education); the individual and the state (with chapters on constitutional law, administrative law, criminal justice, environmental law, and health law); and the economy (with chapters on corporate law, contracts, labor and employment law, antimonopoly law, intellectual property, taxation, and insolvency). Japanese law is in the midst of a watershed period. This book captures the major trends by presenting views on important changes in the field and identifying catalysts for change in the twenty-first century.
After thirty years, the debate over antitrust's ideology has quieted. Most now agree that the protection of consumer welfare should be the only goal of antitrust laws. Execution, however, is another matter. The rules of antitrust remain unfocused, insufficiently precise, and excessively complex. The problem of poorly designed rules is severe, because in the short run rules weigh much more heavily than principles. At bottom, antitrust is a defensible enterprise only if it can make the microeconomy work better, after accounting for the considerable costs of operating the system. The Antitrust Enterprise is the first authoritative and compact exposition of antitrust law since Robert Bork's classic The Antitrust Paradox was published more than thirty years ago. It confronts not only the problems of poorly designed, overly complex, and inconsistent antitrust rules but also the current disarray of antitrust's rule of reason, offering a coherent and workable set of solutions. The result is an antitrust policy that is faithful to the consumer welfare principle but that is also more readily manageable by the federal courts and other antitrust tribunals.
After overthrowing the Mongol Yuan dynasty, Zhu Yuanzhang, the founder of the Ming dynasty (1368-1644), proclaimed that he had obtained the Mandate of Heaven (Tianming), enabling establishment of a spiritual orientation and social agenda for China. Zhu, emperor during the Ming’s Hongwu reign period, launched a series of social programs to rebuild the empire and define Chinese cultural identity. To promote its reform programs, the Ming imperial court issued a series of legal documents, culminating in The Great Ming Code (Da Ming lu), which supported China’s legal system until the Ming was overthrown and also served as the basis of the legal code of the following dynasty, the Qing (1644-1911). This companion volume to Jiang Yonglin’s translation of The Great Ming Code (2005) analyzes the thought underlying the imperial legal code. Was the concept of the Mandate of Heaven merely a tool manipulated by the ruling elite to justify state power, or was it essential to their belief system and to the intellectual foundation of legal culture? What role did law play in the imperial effort to carry out the social reform programs? Jiang addresses these questions by examining the transformative role of the Code in educating the people about the Mandate of Heaven. The Code served as a cosmic instrument and moral textbook to ensure “all under Heaven” were aligned with the cosmic order. By promoting, regulating, and prohibiting categories of ritual behavior, the intent of the Code was to provide spiritual guidance to Chinese subjects, as well as to acquire political legitimacy. The Code also obligated officials to obey the supreme authority of the emperor, to observe filial behavior toward parents, to care for the welfare of the masses, and to maintain harmonious relationships with deities. This set of regulations made officials the representatives of the Son of Heaven in mediating between the spiritual and mundane worlds and in governing the human realm. This study challenges the conventional assumption that law in premodern China was used merely as an arm of the state to maintain social control and as a secular tool to exercise naked power. Based on a holistic approach, Jiang argues that the Ming ruling elite envisioned the cosmos as an integrated unit; they saw law, religion, and political power as intertwined, remarkably different from the “modern” compartmentalized worldview. In serving as a cosmic instrument to manifest the Mandate of Heaven, The Great Ming Code represented a powerful religious effort to educate the masses and transform society.