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Jones, Clifford A. --- "Foundations of Competition Policy in the EU and the USA: Conflict, Convergence and Beyond" [2006] ELECD 297; in Ullrich, Hanns (ed), "The Evolution of European Competition Law" (Edward Elgar Publishing, 2006)

Book Title: The Evolution of European Competition Law

Editor(s): Ullrich, Hanns

Publisher: Edward Elgar Publishing

ISBN (hard cover): 9781845427016

Section: Chapter 1

Section Title: Foundations of Competition Policy in the EU and the USA: Conflict, Convergence and Beyond

Author(s): Jones, Clifford A.

Number of pages: 21

Extract:

1. Foundations of competition policy in
the EU and USA: conflict,
convergence and beyond
Clifford A. Jones*

I INTRODUCTION
The theme of this volume revolves around the evolution of European compe-
tition law, and the following chapters examine diverse aspects of the underly-
ing rationales, goals and objectives of competition policy and some specific
doctrines in an expanding European Union and a globalizing economy. The
objective of this chapter is to provide some introductory American perspec-
tives on this evolution and in the process to consider some of the ways in
which American antitrust and European Union competition policy at times
have both diverged and converged. While it would be wrong to treat this
evolution purely as a reflection of current events, one cannot help but consider
the political, economic and possible strategic implications of some of the
present debate.
The European Union has for a substantial period of time endured weak
economic growth and high unemployment generally as well in the `euro-
zone', the twelve Member States which at present comprise the participants in
the Third Stage of Economic and Monetary Union, the single currency (euro).1
The Treaty of Amsterdam (1997) brought with it a Growth and Stability Pact
designed to make economic and job growth major EU goals along with the
price stability envisaged for the euro. In 2000, the Lisbon European Council
pronounced the EU's `Lisbon Strategy', an ambitious goal for the European
Union `to become the most competitive and dynamic knowledge-based econ-
omy ...