1 December 2022 | 09.30-13.00 CETParis, France
THE 2022 OECD GLOBAL FORUM ON COMPETITION DISCUSSED THE GOALS OF COMPETITION POLICY
Most jurisdictions have embraced some form of the consumer welfare standard to achieve the basic goals of competition: to maintain and encourage the process of competition in order to promote efficient use of resources while protecting the freedom of economic action of various market participants. Some also consider competition policy as a tool to contribute to a number of other objectives: pluralism, decentralisation of economic decision-making, preventing abuses of economic power, promoting small business, fairness and equity and other socio-political values. These “supplementary” objectives tend to vary across jurisdictions and over time. The latter reflects the changing nature and adaptability of competition policy so as to address current concerns of society while remaining steadfast to the basic objectives.
In December 2022, the OECD Global Forum on Competition questioned whether competition law and policy needs to adapt as a policy instrument to better accommodate socio-economic trends such as the rising importance of sustainability. Is the current consumer welfare focus sufficient? Is the instrument of competition law enforcement still effective or does it need to be complemented by other instruments, or new legislation?
See also the full list of OECD best practice roundtables on competition
Are competition and democracy symbiotic?, Global Forum on Competition 2017