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Law in Context

Abstract from Volume 20 No 1 (2002) Competition Policy with Legal Form

Is There a Third Way?

Cathy Lowy is Senior Lecturer in Law and Legal Studies at La Trobe University, Melbourne.

A framework for competition policy that is neither the liberal model of the self-regulating market nor that of the socialist command economy may be called a 'Third Way'. A Third Way program adopted at the end of the past century by Anthony Giddens and others has gained popularity. The central features of this program as they relate to competition policy are examined and found wanting. In particular, those aspects of the program that are to do with risk taking and equality do not yield what is required of them. The Third Way discourse is found to be an eclectic mix of concepts and paradigms rather than the road to a truly new way of doing things for competition policy.

(2002) 20 No 1 Law in Context 172
Keywords: Competition

   
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