Competition law facts for kids
Competition law is a law that stops companies from behaving in an anti-competitive way. Competition law is called antitrust law in the United States, and anti-monopoly law in China and Russia. It used to be called trade practices law in the United Kingdom and Australia. In the European Union, it is called both antitrust and competition law
Images for kids
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Judge Coke in the 17th century thought that general restraints on trade were unreasonable.
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Senatorial Round House by Thomas Nast, 1886
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John Stuart Mill believed the restraint of trade doctrine was justified to preserve liberty and competition.
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Paul Samuelson, author of the 20th century's most successful economics text, combined mathematical models and Keynesian macroeconomic intervention. He advocated the general success of the market but backed the American government's antitrust policies.
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Scottish Enlightenment philosopher Adam Smith was an early enemy of cartels.
See also
In Spanish: Derecho de la competencia para niños
