The Effects of Competition Law on Inequality — An Incidental By-Product or a Path for Societal Change?
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Date
2023-03
Publication Type
Journal Article
ETH Bibliography
yes
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Abstract
Rising economic inequality presents society with unprecedented challenges. Direct instruments designed to address these worrying trends have often under performed. As a result, we find ourselves on a potentially dangerous and downward path. In this article we explore whether, in parallel to other efforts to mitigate the rise of inequality, there can be a role for competition law in the quest to reduce the widening inequality gap. We begin by outlining the possible relationship between competition law enforcement, market power, and economic inequality. We supplement the theoretical discussion with a review of empirical analysis of these linkages. We look at macro and micro data and emphasize the role of labour compensation as a key mechanism which links competition law enforcement, competition dynamics, and economic inequality. We then reflect on the policy implications and possible means to utilize competition enforcement in a manner that could reduce economic inequality.
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Publication status
published
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Book title
Journal / series
Volume
11 (1)
Pages / Article No.
51 - 73
Publisher
Oxford University Press
Event
Edition / version
Methods
Software
Geographic location
Date collected
Date created
Subject
Competition law; Consumer welfare; Economic inequality; Labour markets
Organisational unit
03795 - Bechtold, Stefan / Bechtold, Stefan