Considering worker welfare? : a capability assessment of antitrust

Abstract

Conduct of competition law under the consumer welfare standard is under attack. In the United States (US), some have requested considering worker welfare in the day-to-day application of antitrust and merger rules. By contrast, similar calls are weaker in the European Union (EU) in spite of it being a “social market economy” (article 3(3) TEU). This article asks “why?”. To address this question, it compares antitrust’s capabilities to protect worker welfare in both regions. It concludes that while American ones are both structurally and contextually stronger, European capabilities exist. This finding provides insights on how to reform the tools and methods of EU competition law if enforcers decide to step up intervention. Considering social impacts in antitrust could strengthen its legitimacy.