We found a match
Your institution may have access to this item. Find your institution then sign in to continue.
- Title
THE BRITISH APPROACH TO MONOPOLY CONTROL.
- Authors
Harbury, C. D.; Raskind, Leo J.
- Abstract
This article focuses on the British Monopolies and Restrictive Practices Act of 1948. The Act offers both lawyers and economists an opportunity to examine a new approach to an old problem. The essentially economic tone of the Act delegates the major responsibility for monopoly control to the newly established Monopolies and Restrictive Practices Commission. The purely legal approach to monopoly control was rejected and an essentially administrative procedure was adopted that is based only upon a general statutory description of considerations relevant to the public interest. Before the passage of the 1948 Act the common law provided the only remedy against restraint of trade. The Commission is required to determine the applicability of the Act in terms of structure of the industry. The Commission is specifically required to report whether, if the Act prevails, the conditions in the industry operate or may be expected to operate against the public interest. The Commission should ensure efficient economic production and distribution at prices that best meet the requirements of home and overseas markets.
- Subjects
UNITED Kingdom; RESTRAINT of trade; LEGISLATION; MONOPOLIES; TRADE regulation; PRODUCTION (Economic theory); PHYSICAL distribution of goods; ENFORCEMENT; INDUSTRIES
- Publication
Quarterly Journal of Economics, 1953, Vol 67, Issue 3, p380
- ISSN
0033-5533
- Publication type
Article
- DOI
10.2307/1881695