Anti-monopoly laws in Turkey, Greece, and Italy,and Their Enforcement

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Anti-monopoly laws in Turkey, Greece, and Italy,and Their Enforcement

A free market economy allows a nation to have open and equal (to an extent) competition while utilizing the resources available in the most effective manner. However, it is not perfect and can lead to some problems such as someone controlling the whole market or, in other words, having a monopoly or monopoly power. Also, there could be cartels, which are when companies will make agreements that ?abandon competition between themselves in order to increase their profit? (?Message of the President? 1). Both of these are dangerous for the economy because they not only harm competition for smaller businesses but also the consumer, who is forced to pay whatever prices the companies agree upon. These dangers for the economy create a need for the national governments to have anti-monopoly laws that ban such practices. However, with the creation of these laws also comes the need for the enforcement of them, and so there are many new government agencies that work to make sure they are enforced. Some countries and organizations that have these laws and enforcement agencies over competition are Turkey and the European Union, which includes Italy and Greece.

Anti-monopoly or antitrust laws, mainly work against an imbalance of competition in a free market economy. In other words, they work against the ?abuse of dominant position? or ?a situation of economic power held by a firm, which allows it to hinder effective competition in the relevant market.? To fight this possibility antitrust laws work to prevent infringements of the laws by businesses. The laws work to rule out anything that restricts competition whether it is cartels, monopolies, or other agreeme...

... middle of paper ...

...ar of being monopolized.

Works Cited

?Abuse of Dominant Position.? Rekabet Kurumu.? http://www.rekabet.gov.tr/ehakimdurum.html 12 Dec, 2003.

?Antitrust Reform frequently asked questions.? http://www.europa.eu.int/news/index_en.htm 16 Dec. 2003.

?Law no. 287 of October 10th, 1990.? AGCM HomePage. 13 Oct. 1990. Italy. 8 Jan. 2004 <http://www.agcm.it/eng/index.htm>. Path: Legislation; Law no. 287 of October 10th, 1990.

?Message of the President.? Rekabet Kurumu. http://www.rekabet.gov.tr/ebaskanmesaj.html 12 Dec, 2003.

?News Releases.? AGCM HomePage. http://www.agcm.it/eng/index.htm 12 Dec, 2003.

?The Act on the Protection of Competition: No. 4054.? Rekabet Kurumu. http://www.rekabet.gov.tr/word/ekanun.doc 12 Dec, 2003.

http://www.europa.eu.int/index_en.htm 16 Dec. 2003

http://www.europa.eu.int/scadplus/leglen/lvb/126005.htm 16 Dec. 2003.

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