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Agreement For The Creation Of Monopolies

The development of early competition law in England and Europe progressed with the spread of writings such as Adam Smith`s The Wealth of Nations, who first founded the concept of the market economy. At the same time, industrialization replaced the artisan or group of craftsmen with paid workers and machine-based production. Commercial success increasingly depends on maximizing production while minimizing costs. As a result, the size of a company has become increasingly important and a number of European countries have responded by regulating large companies that restrict trade. After the French Revolution of 1789, the law of 14 to 17 June 1791 declared that agreements concluded by members of the same industry that set the price of an industry or work were annal, unconstitutional and liberticidal. Similarly, the Austrian Criminal Code of 1852 established that “agreements. to increase the price of a commodity. to the detriment of public opinion as a crime”. In 1870, Austria passed a law abolishing sanctions, although such agreements were annulled. However, in Germany, legislation has clearly confirmed agreements between companies to raise prices. During the eighteenth and nineteenth centuries, Europe developed ideas that dominant private companies or legal monopolies could restrict trade excessively. However, in the late nineteenth century, a depression spread through Europe, known as the Panic of 1873, and the ideas of competition lost their favor and there was a sense that companies had to work together by forming cartels to cope with enormous pressure on prices and profits. [30] Competition law was recognized in the interwar period in Europe, when Germany passed its first anti-cartel protection law in 1923 and Sweden and Norway passed similar laws in 1925 and 1926 respectively.

However, with the Great Depression of 1929, competition law disappeared from Europe and was revived after World War II, when, under pressure from the United States, Britain and Germany were the first European countries to enact full-fledged competition laws. At regional level, Community competition law has its origins in the Agreement of the European Coal and Steel Community (ECSC) between France, Italy, Belgium, the Netherlands, Luxembourg and Germany in 1951, after the Second World War. The agreement was aimed at preventing Germany from dominating coal and steel production, believing that this domination had contributed to the outbreak of war. Article 65 of the Agreement prohibited cartels and Article 66 concerning concentrations or mergers and the abuse of a dominant position by undertakings. [35] This was the first time that competition principles had been included in a plurilateral regional agreement and that the trans-European model of competition had been founded. In 1957, competition rules were introduced into the Treaty of Rome, also known as the EC Treaty and founded by the European Economic Community (EEC). The Treaty of Rome established the adoption of competition law as one of the main objectives of the EEC by introducing “a system to ensure that competition is not distorted in the common market”. Article 85, which prohibited anti-competitive agreements, and Article 86, which prohibits the abuse of a dominant position, defined the two essential provisions relating to Community competition law for undertakings. . .

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