The Role of Consumer Welfare in EU Competition Policy: How Understanding the Priority Conferred Upon Competition Policy Objectives May Shed Light on Modern Day Inconsistencies
At the turn of the century the Commission announced its intention to introduce a ‘more economic approach’ to EU competition law. Beyond incorporating modern economic theory into its enforcement practices, such a modernised approach to competition law was also to entail bringing the Union’s competition policy objectives in line with such modern economic theory. In particular, as expressed by Mario