Competition law under fire: responding to competing demands for change in the case of price parity clauses and loyalty rebates. Antitrust Chronicle

Competition law is under attack. On the one hand, globalisation and the digital revolution have greatly benefited the owners of firms and particularly the wealthiest 1%, while delivering fewer benefits to consumers and workers. This has led to calls for a fundamental rethink of the principles and purpose of competition law and policy. One area where competition law is particularly under the microscope is its ability to ensure that consumers obtain a larger share of the benefits generated by the rise of the so-called tech giants and the digital economy. Here some commentators have made the case that a fundamental rethink is not required, but that in order to better protect the interests of consumers and workers, competition enforcement does need to re-examine the balance of risks that it is prepared to take.