The Normative Foundations of United States Antirust Law and European Union Competition Law: Assessing the Economic, Social, and Political Goals of Competition Law

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In order to understand competition law today, it is necessary to understand the legal, political and economic theories that inform competition systems and also the historical origins of said systems. As Bork suggests, ‘[a]ntitrust policy cannot be made rational until we are able to give a firm answer to one question: What is the point of the law – what are its goals? This question centres on ‘the battle for the lost soul of antitrust’, the debate that surrounds this ‘battle’ is ‘likely to leave the impression that antitrust is a cornucopia of social values, all of them rather vague … but infinitely attractive’.