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This insightful book assesses emerging trends in the role of economic analysis in EU competition policy, exploring how it has substantially increased in terms of both theories and methods.
An analysis of the history, theory and practice of European integration, designed to appeal to a wide range of students studying economic integration as part of an economics, business, law or public-administration degree. This edition includes a new chapter on the environment.
"Guilds ruled many crafts and trades from the Middle Ages to the Industrial Revolution, and have always attracted debate and controversy. They were sometimes viewed as efficient institutions that guaranteed quality and skills. But they also excluded competitors, manipulated markets, and blocked innovations. Did the benefits of guilds outweigh their costs? Analyzing thousands of guilds that dominated European economies from 1000 to 1880, The European Guilds uses vivid examples and clear economic reasoning to answer that question. Sheilagh Ogilvie's book features the voices of honorable guild masters, underpaid journeymen, exploited apprentices, shady officials, and outraged customers, and follows the stories of the "vile encroachers"--Women, migrants, Jews, gypsies, bastards, and many others--desperate to work but hunted down by the guilds as illicit competitors. She investigates the benefits of guilds but also shines a light on their dark side. Guilds sometimes provided important services, but they also manipulated markets to profit their members. They regulated quality but prevented poor consumers from buying goods cheaply. They fostered work skills but denied apprenticeships to outsiders. They transmitted useful techniques but blocked innovations that posed a threat. Guilds existed widely not because they corrected market failures or served the common good but because they benefited two powerful groups--guild members and political elites."--Rabat de la jaquette.
This book provides an historical analysis of what the European Union is. Examining the development of the EU in a global context, the book draws on long-term processes of change in historical depth to developing a deeper understanding of global social change.
This edited volume covers the challenges currently faced by consumer law in Europe and the United States, ranging from fundamental theoretical questions, such as what goals consumer law should pursue, to practical questions raised by disclosure requirements, the General Data Protection Regulation and technology advancements. With governments around the world enacting powerful new regulations concerning consumers, consumer law has become an important topic in the economic analysis of law. Intended to protect consumers, these regulations typically seek to do so by giving them tools to make better decisions, or by limiting the consequences of their bad decisions. Legal scholars are divided, however, regarding the efficacy and effects of these regulations; some call for certain policies to be abolished, while others support a regulatory expansion.
This original and insightful book considers the ways in which public law, which emphasises legality (the Demos), and economics, a science oriented towards the markets (the Agora), intertwine. Throughout, George Dellis argues that the concepts of legality and efficiency should not be perceived separately.
This anthology illustrates how law and economics is developing in Europe and what opportunities and problems – both in general and specific legal fields – are associated with this approach within the legal traditions of European countries. The first part illuminates the differences in the development and reception of the economic analysis of law in the American Common Law system and in the continental European Civil Law system. The second part focuses on the different ways of thinking of lawyers and economists, which clash in economic analysis of law. The third part is devoted to legal transplants, which often accompany the reception of law and economics from the United States. Finally, the fourth part focuses on the role economic analysis plays in the law of the European Union. This anthology with its 14 essays from young European legal scholars is an important milestone in establishing a European law and economics culture and tradition.
The clearest and most up-to-date account of the achievements—and setbacks—of the European Union since 1945. Europe has been transformed since the Second World War. No longer a checkerboard of entirely sovereign states, the continent has become the largest single-market area in the world, with most of its members ceding certain economic and political powers to the central government of the European Union. This shift is the product of world-historical change, but the process is not well understood. The changes came in fits and starts. There was no single blueprint for reform; rather, the EU is the result of endless political turmoil and dazzling bureaucratic gymnastics. As Brexit demonstrates, there are occasional steps backward, too. Cutting through the complexity, Richard Pomfret presents a uniquely clear and comprehensive analysis of an incredible achievement in economic cooperation. The Economic Integration of Europe follows all the major steps in the creation of the single market since the postwar establishment of the European Coal and Steel Community. Pomfret identifies four stages of development: the creation of a customs union, the deepening of economic union with the Single Market, the years of monetary union and eastward expansion, and, finally, problems of consolidation. Throughout, he details the economic benefits, costs, and controversies associated with each step in the evolution of the EU. What lies ahead? Pomfret concludes that, for all its problems, Europe has grown more prosperous from integration and is likely to increase its power on the global stage.
Algorithms are ubiquitous in our daily lives. They affect the way we shop, interact, and make exchanges on the marketplace. In this regard, algorithms can also shape competition on the marketplace. Companies employ algorithms as technologically innovative tools in an effort to edge out competitors. Antitrust agencies have increasingly recognized the competitive benefits, but also competitive risks that algorithms entail. Over the last few years, many algorithm-driven companies in the digital economy have been investigated, prosecuted and fined, mostly for allegedly unfair algorithm design. Legislative proposals aim at regulating the way algorithms shape competition. Consequently, a so-called “algorithmic antitrust” theory and practice have also emerged. This book provides a more innovation-driven perspective on the way antitrust agencies should approach algorithmic antitrust. To date, the analysis of algorithmic antitrust has predominantly been shaped by pessimistic approaches to the risks of algorithms on the competitive environment. With the benefit of the lessons learned over the last few years, this book assesses whether these risks have actually materialized and whether antitrust laws need to be adapted accordingly. Effective algorithmic antitrust requires to adequately assess the pro- and anti-competitive effects of algorithms on the basis of concrete evidence and innovation-related concerns. With a particular emphasis on the European perspective, this book brings together experts and scrutinizes on the implications of algorithmic antitrust for regulation and innovation.
The Economic Impact Group (EIG) was created to support the work on the DCFR with insights from law and economics. It brings together a number of leading European law and economics scholars. The Group looked at the main elements of the DCFR with two questions in mind: from an economic perspective, is it sensible to harmonize private law across Europe for this specific element, and is the solution chosen in the DCFR optimal? This book presents the outcome of the work of the EIG. It deals with key issues such as the function of contract law, contract formation, good faith, non-discrimination, specific performance versus damages, standard contractual terms and consumer protection in contract law. The EIG complements the work of the drafters of the DCFR with insightful and critical assessments, based on the well-established law and economics literature.