Governmental Anti-Trust Policy
INTRODUCTION
This research compares the
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This research compares the governmental policy anti trust policy of the Federal Republic of Germany (FRG), or West Ger many, Japan, and the United States (US), with a view toward assessing the impact of the various national policies on trends in international trade. Anti trust policy is a component an a country's industrial policy. Thus, the concept of an indus trial policy, together with the approach of each of the three countries toward the development and application of an indus trial policy, must be considered, before their approaches to anti trust are considered.An industrial policy attempts to provide an economic environment which either (1) supports industrial development generally, or (2) promotes the development of specific indus tries or sectors of an economy (United States Department of Commerce, 1986). Such a policy might include (1) tax incen tives to support either investment or exports, (2) subsidies direct or indirect to industrial firms or industries, (3) pro tection against foreign competition, (4) worker training pro grams, (5) funding full or participating for research and development, (6) grants and loans to support (a) regional 1 2development, (b) the development of specific industries, or (c) small business, (7) export financing, (8) loans and loan under writing to support (a) exports, (b) specific sectors of a domestic economy, or (c) specific firms, (9) price supports, (10) anti trust, and (
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in this industry exists primarily in the area of product differentiation.
The development of industries into oligopolies typically result in the creation of barriers to the entry of new firms into the industry. One need only to look as far as John Delorean to appreciate the barriers to entry which exist in automobile manufacturing in contemporary times. Scale econo mies create most of the barriers to entry in automobile manu facturing; however, product differentiation, patents, and other factors may also create effective barriers.
In the United States, scale economies are encouraged, and unfair competition resulting from scale economies is presumed to exist only when accompanied by other unfair trade practices, such as the pricing of goods and services below costs of pro duction, or such as the offering of similar quantities of simi lar goods and services to different customers at different prices. Market concentration, in contrast to scale economies, however, is often used in the United States as the sole criter ion in the determination that anti trust action on the part of government is required. As was earlier noted, however, the 10application of this criterion often depends upon the philosoph ical and political perspe
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Some common words found in the essay are:
Economic Advisers, Clayton Act, Reagan Administration, FRG Japan, Deficit Change, United Treasury, Department Commerce, John Delorean, Antitrust Act, Federal Reserve, industrial policy, wilson 1985, international trade, reagan administration, moore 1989, trade deficit, external deficit, frg japan, anti trust policy, american industrial, council economic advisers, international monetary fund, international trade deficit, monetary fund 1990, economic advisers 1990,
Approximate Word count = 5076
Approximate Pages = 20 (250 words per page)
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