Removing the efficiency defence in mergers and compelling firms to hand over commercial information are bound to screw things up. Read on.
Photo by Adrian Wyld/THE CANADIAN PRESS filesHere are two facts. One: politicians and activist bureaucrats are not gods. Two: they are not about to become gods, either. A corollary: the Liberal government’sto strengthen regulation of competition is a central planning exercise all but certain to produce miserable outcomes.
One major proposed reform is to make it more difficult for companies to merge by removing the “efficiencies defence” from the Competition Act. A second is to give the Competition Bureau the power to compel companies to provide it with information so it can produce studies and then “take action” if it concludes companies are engaged in anti-competitive behaviour — in other words, to empower activist bureaucrats to browbeat companies into behaving in ways the bureaucrats prefer.
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