In this edition of the Antitrust Chronicle, we take a satellite view over the approaches that regulators and legal systems worldwide have taken to breakneck developments in the digital economy.
Just like in previous economic revolutions, recent technological developments have upended relationships between consumers, suppliers, and intermediaries across various sectors of the economy. Industries as disparate as content provision (via newspapers, TV, and radio), retail, transport (and countless others) have been disrupted by new players with innovative business models facilitated by the ubiquity of Internet access and the ready availability of technology to consumers.
Antitrust enforcers have met this challenge through various means, including enforcement action, but also through undertaking various investigative measures that aim to evaluate the effects of the digital revolution on existing economic assumptions. The last year has seen the output of these investigative endeavors in the form of reports and studies that analyze the implications of recent technological developments for antitrust enforcement.
While the digital revolution is a global phenomenon, its effects are local, as reflected in the concerns reflected in the multiplicity of reports published by regulators across the world in recent months. But all of the reports seek to answer the same questions, namely: are existing rules sufficient to ensure that the goals of antitrust law are m!-->…