EU did not decide to create competitive and well regulated market regulators. There was no political desire to do so. Local companies and workers lobbied their governments against competition as always. But when only way to protect companies in your own country was to create fair game for everyone, it had to be done. Distrust and self interest forced EU to it.
Philippon (one of the authors) have written a great book: "The Great Reversal: How America Gave Up on Free Markets" Belknap Press, 2019. that looks the other side of the pond.
ConfidenceFairy t1_j2u2vwq wrote
Reply to comment by primarysrc in European economies have developed stronger anti-trust regulations, more competitive markets, and more robust consumer protection than the US in the last 20 years. The reason for this is the EU. EU member states are incentivized to empower a strongly independent pro-competition regulator. by smurfyjenkins
The main point is political economics.
EU did not decide to create competitive and well regulated market regulators. There was no political desire to do so. Local companies and workers lobbied their governments against competition as always. But when only way to protect companies in your own country was to create fair game for everyone, it had to be done. Distrust and self interest forced EU to it.
Philippon (one of the authors) have written a great book: "The Great Reversal: How America Gave Up on Free Markets" Belknap Press, 2019. that looks the other side of the pond.