scholarly journals Creating duty on dominant firm: a case for alternative economic analysis

2020 ◽  
Vol 9 (2) ◽  
pp. 225-239
Author(s):  
Prabhu Aloke Narasinga
Keyword(s):  
Economic Analysis ◽  
Free Market ◽  
Economic Thought ◽  
Antitrust Law ◽  
Free Market Economy ◽  
Moral Norms ◽  
Moral Issues ◽  
Dominant Firm ◽  
Market Participants ◽  
Antitrust Regulation

AbstractThe desirability of creating norms within the framework of law has been a challenging process in a free market economy. The principles of antitrust law enunciated by courts in abuse of dominant cases has led to ‘refusal to deal’ as a contested doctrine. When dominance is treated as legitimate aspiration and free market choices are the medium to achieve the aspirations of free market enterprises, any duty or obligation cast on the firm is considered antithetical to the spirit of free market unless it eclipses the anticompetitive effect. Where an economic analysis of antitrust law has non-economic impacts with ethical and moral issues, it calls for an alternative economic thought which also considers plural values of society. This also reflects a conflict arising out of lack of norms and respect for property rights. This paper attempts to analyze the cases and framework which is currently employed by the courts and the challenges it puts forth in creating a norm that is universal. The author by drawing on the principles of Gandhian economic thought and its essential features of trusteeship, non-possession and non-violence creates space for resolution of conflicts promoting ethical and moral considerations. Resolution of conflict through ethical and moral norms also assimilates the varied goals of antitrust regulation, including non-economic goals when the goals of antitrust require a broader consideration that accommodates the wider spectrum of market participants.

The Religious and Moral Foundations of Civil Society and Free Market Economy

2001 ◽  
Vol 13 (1) ◽  
pp. 1-14
Author(s):  
Gaylen J. Byker ◽  
Keyword(s):  
Civil Society ◽  
Market Economy ◽  
Church And State ◽  
Free Market ◽  
Moral Foundations ◽  
Free Market Economy ◽  
Moral Norms ◽  
The Public ◽  
Democratic Polity ◽  
Liberal Societies

This essay proposes that a healthy civil society and a fair and effective free market economy constitute the bases of a well-functioning democratic polity. For civil society and free market economy to function well requires citizens with good moral character. Religious beliefs and practices provide the best foundation for the development and maintenance of the moral norms, virtues, motivations, tendencies, and habits essential for open, pluralistic, liberal societies. Yet liberalism has effectively undermined religious claims to the public domains of freedom and the goals of society. The separation of church and state was extended to an even deeper separation of secular, public thought, from religious thought and influence. This has contributed to the weakening of families, churches, schools, and communities, and their interest in and ability to train virtuous and responsible citizens, which a free society needs to sustain itself.

scholarly journals Ekonomi Dan Penguasa (Pemikiran Ibn Taimiyah tentang Mekanisme Pasar)

2018 ◽  
Vol 3 (1) ◽  
pp. 73
Author(s):  
Syarial Dedi
Keyword(s):  
Free Market ◽  
Supply And Demand ◽  
Economic Thought ◽  
Market Mechanism ◽  
The Other ◽  
Ethical Values ◽  
Moral Norms ◽  
Economic Problems ◽  
Other Hand ◽  
The Government

The classical scholars not only focus on the issue of ritual worship, but also pay attention to the economic problems of society and even indicated theories of modern conventional economics is the adoption of the results of their thinking. One of them is Ibn Taymiyyah. Its has inspired the market mechanism. Prices are handed over to businesses naturally, without being interfered with by the government. On the other hand religion gives authority to the government that must be obeyed by the ruler in taking care of them. This study uses the method of literature with the conclusion that in the free market, the price is considered by the strength of supply and demand. Free market runs fair, reasonable, likes the same likes and no distortion. However, the market mechanism is not always running perfectly, often distortion occurs. In this condition, the state's role as the supervisor of development morality is needed to make people aware that moral norms and ethical values are very important as the principle of development that must be implemented in the life of the economy. This means that Ibn Taymiyya'hs economic thought is in line with the duties and authorities of the ruler.

Competition and Antitrust Law: A Very Short Introduction

2021 ◽  
Author(s):  
Ariel Ezrachi
Keyword(s):  
Law Enforcement ◽  
Market Economy ◽  
Free Market ◽  
Competition Law ◽  
Antitrust Law ◽  
Free Market Economy ◽  
Competitive Markets ◽  
Short Introduction ◽  
Competition Law Enforcement ◽  
The Eu

Competition and Antitrust Law: A Very Short Introduction draws on case studies from across the EU and USA to examine the benefits of competition and the laws which safeguard competitive markets. Competitive markets deliver lower prices, better quality, abundance of choice, and increased innovation. But while competition benefits consumers, it can prove challenging for sellers and producers who may try to dampen the competitive process. This VSI elucidates the key challenges to competition — cartels and anti-competitive agreements, monopolies, and mergers — and looks at the policy considerations which affect competition law enforcement. There exists a delicate relationship between a free market economy and government intervention.

Milton Friedman (1912-2006)

2007 ◽  
pp. 155-174
Author(s):  
Julio H. Cole
Keyword(s):  
Free Market ◽  
Early Morning ◽  
Public Intellectual ◽  
Free Market Economy ◽  
The Public ◽  
Milton Friedman ◽  
Television Documentary ◽  
Bona Fide ◽  
World Class ◽  
Policy Arena

Milton Friedman, who died in the early morning of November 16, 2006, was a world-famous economist, and an ardent and effective advocate of the free market economy. Much of his celebrity derived from his role as public intellectual, an aspect of his work that was reflected largely in popular books, such as Capitalism and Freedom (1962) and the hugely successful Free to Choose (1980) -both co-authored with his wife, Rose (and the latter based on the television documentary of the same title)- and in the Newsweek opinion columns he wrote for many years. Though he was already well-known by the time he received the Nobel Prize in Economics, in 1976, both his stature as public figure and his effectiveness as policy advocate were greatly enhanced by that award, and this is what has been mostly stressed in the vast outpouring of obituaries and public testimonials prompted by his recent passing. It is important to recall, however, that there was another aspect of his career, one which most professional economists (and probably Friedman himself) would regard as far more important than his incursions in the policy arena. Indeed, even if "Friedman the public intellectual" had never existed, "Friedman the economic scientist" would still be renowned and respected (though perhaps not as a bona fide world-class celebrity), and his memory will live long in the lore of economics It is primarily this other aspect of his life and work that I wish to focus on in this essay.

Determinanty wewnętrzne polityki zagranicznej Ukrainy pod rządami Wołodymyra Zełenskiego

2019 ◽  
Vol 17 (1) ◽  
pp. 123-141
Author(s):  
Tomasz Stępniewski
Keyword(s):  
Market Economy ◽  
Rule Of Law ◽  
Political System ◽  
Free Market ◽  
Stable State ◽  
Free Market Economy ◽  
The Rule Of Law ◽  
The People ◽  
Internal Politics ◽  
Research Questions

The present paper discusses the following research questions: to what extent did errors made by the previous presidents of Ukraine result in the country’s failure to introduce systemic reforms (e.g. combating corruption, the development of a foundation for a stable state under the rule of law and free-market economy)?; can it be ventured that the lack of radical reforms along with errors in the internal politics of Ukraine under Petro Poroshenko resulted in the president’s failure?; will the strong vote of confidence given to Volodymyr Zelensky and the Servant of the People party exact systemic reforms in Ukraine?; or will Volodymyr Zelensky merely become an element of the oligarchic political system in Ukraine?

KEGAGALAN PRIVATISASI BUMN DI ERA REZIM ORDE BARU DALAM PERSPEKTIF EKONOMI POLITIK

Wacana Publik ◽  
2019 ◽  
Vol 12 (02) ◽  
Author(s):  
Syamsul Ma'arif
Keyword(s):  
Market Economy ◽  
Free Market ◽  
Dominant Role ◽  
The State ◽  
Early Years ◽  
New Order ◽  
Free Market Economy ◽  
Economic Sectors ◽  
Role Of The State

After had being carried out nationalization and hostility against west countries, the New Order regime made important decision to change Indonesia economic direction from etatism system to free market economy. A set of policies were taken in order private sector could play major role in economic. However, when another economic sectors were reformed substantially, effords to reform the State Owned Enterprises had failed. The State Owned Enterprise, in fact, remained to play dominant role like early years of guided democracy era. Role of the State Owned Enterprises was more and more powerfull). The main problem of reforms finally lied on reality that vested interest of bureaucrats (civil or military) was so large that could’nt been overcome. 

scholarly journals Związek wolnego rynku z dyktaturą polityczną: przejściowy czy trwały? Przykład Chin

2018 ◽  
Vol 46 ◽  
Author(s):  
Aniela Dylus
Keyword(s):  
Market Economy ◽  
Free Market ◽  
Political Freedom ◽  
Political Life ◽  
Paradigm Change ◽  
Free Market Economy ◽  
The Enlightenment ◽  
Liberal Economy ◽  
Democratic Systems ◽  
Economy System

Aniela Dylus, Związek wolnego rynku z dyktaturą polityczną: przejściowy czy trwały? Przykład Chin [The relation between free market economy and political dictatorship – is it of temporary or permanent nature? The example of China] edited by W. Banach, M.A. Michalski, J. Sójka, „Człowiek i Społeczeństwo” vol. XLVI: Między Chinami a Zachodem. Pytanie o źródła chińskiego sukcesu gospodarczego [Between China and the West. An inquiry into the sources of the Chinese economic miracle], Poznań 2018, pp. 103–119, Adam Mickiewicz University. Faculty of Social Sciences Press. ISSN 0239-3271.The relation between free market economy and democracy has been assumed as a paradigm in the western culture since the Enlightenment. However, this paradigm seems to be violated by markets that flourish under the political dictatorship. Are these markets the exceptions to the rule or maybe their scale does not indicate the necessity of paradigm change? Or maybe we are wrong to assume that capitalism flourish mainly in democratic systems? Is it possible that the relation between communist political dictatorship and liberal economy system is only of temporary nature and people that have economical freedom will demand sooner or later their political freedom? To answer these questions, (1) the paradigm of relationship between free market, its prosperity and democracy and (2) the arguments supporting this relationship have been discussed. Referring to Samuel Huntington’s theory, (3) it has been reminded that many factors, not only economical ones, decide about democratization of political life and some exceptions to this rule have been mentioned. (4) The example of contemporary China is one of the most spectacular example. The short characteristic of (5) its economic condition, (6) its economic system and political dictatorship has been presented and then the attempts have been made to give the arguments either for (7) temporary or (8) permanent relationship between free market and political dictatorship in China. Although the idea of democracy, the rule of law and human rights seems not to be the only alternative base of economical market system, it appears to be prevalent and the only one in a longer period.

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