The purpose of this paper is to discuss the significance of the theory of complex systems for analyzing economic evolution. We emphasize the necessity of the structural dynamic approach and discuss possible implications of the theory of complex systems for studying economic processes with different speeds of change. We illustrate a way to construct a general economic theory that includes the ma...

Part I of this Essay shows that two central principles of the EC, namely mobility between Member States and decentralization of economic policies (subsidiarity), imply that Member States and other lower-level jurisdictions necessarily are in competition with one another (locational competition). Part II presents an outline of a theory of interjurisdictional competition that suggests, first, tha...

Assessing the extent of competition within the airports sector and making the case for robust economic regulation to protect consumers.

The Bohai Economic Rim plays an important role in supporting China’s economic growth. For this research, we selected nine main ports in the region to study whether intra-port competition or corporatization would improve efficiency. Using a panel fixed effect model and stochastic frontier model, we found that the technical efficiency of selected ports is significantly influenced by the time of t...

The Fourth Edition of Professor Valentine Korah’s Introductory Guide to EEC Competition Law and Practice (the “Guide”) continues her tradition of concise, insightful, and very useful publications. Since it was first published in 1978, this book and its companion Monographs on group exemptions have gained a reputation for being invaluable guides for the beginner as well as a useful starting plac...

Popular texts typically assert that guilds of craftsmen `̀ monopolized’ ’ markets in medieval England. Norman Cantor’s Medieval Reader declares `̀ craft guilds’ . . . main purpose and activity was narrow regulation of industrial productivity in order to restrain competition’ ’ (Cantor 1994, p. 278). Douglass North’s Structure and Change in Economic History asserts `̀ . . . guilds organized to prot...