This book presents a collection of papers which evaluate the
achievements of the Australian Trade Practices Act 1974 in making
Australian markets more competitive. The contributors have all played
major roles in Australian and New Zealand antitrust actions, either as
expert economic witnesses, as antitrust enforcers, as judges or as
quasi-judicial administrators. No other publication presents such
in-depth economic analysis of the Act and the cases decided under it in
its first two decades of its operation.
As well as an introductory paper, this collection includes a foreword by
the Hon. George Gear, Assistant Treasurer of the Australian Government
and Minister responsible for the administration of the Act, plus two
broad analytical overviews of the last two decades of Australian
antitrust actions by two economists who have continually been at the
heart of antitrust proceedings. In addition, papers are provided which
give a judicial view of the Act and economic analysis, which compare the
Act with its New Zealand counterpart. Other contributions look in detail
at those sections of the Act which cover mergers, misuse of market
power, price-fixing and vertical practices. The book shows that the Act
has had a major impact on Australian market behavior. Judges, lawyers
and economists between them have produced a truly Australian approach to
antitrust, which has reflected overseas trends in both law and
economics, as well as developed a unique Australian flavor.
The book will be of interest to academic and practicing lawyers and
economists, judges and corporate executives. It will be essential
reading for Australian students in undergraduate courses in antitrust
law, business regulation, antitrust economics and industrial
organization. It provides by far the most comprehensive economic
evaluation of Australian antitrust yet published and so will be the
definitive source of information on this topic for non-Australians
interested in comparative antitrust legislation and enforcement
issues.
