The Accomodating act: reflections on competition policy and the Trade Practices Act

Competition policy in Australia is concerned with more than just economic efficiency. It is about accommodating the interests of different groups. While Australia’s early competition statutes were effectively accommodating big business, the current Trade Practices Act is more focused on consumer and small business groups. This article examines the origins and goals of Australia’s competition laws and contrasts them to their counterpart in the United States. It illustrates the accommodating nature of Australia’s current laws by using three examples that reveal a myriad of concerns other than economic efficiency. The aim of the article is to promote more productive enquiry as to what these laws should be doing.