OECD, Statistics Portal, Glossary of Statistical Terms: “In the Wealth of Nations published in 1776, Adam Smith observed that ‘Monopoly … is a great enemy to good management.’ This insight explicitly recognized that the problem of monopoly is not only one of price but also one of costs. While monopoly may provide the basis for extracting higher prices from customers, the lack of competitive stimulus may raise the costs of producing the goods and services it sells. The lack of incentives or competitive pressures may lead monopolistic firms to neglect minimizing unit costs of production, i.e., to tolerate “X-inefficiency” (phrase coined by H. Leibenstein). Included in X- inefficiency are wasteful expenditures such as maintenance of excess capacity, luxurious executive benefits, political lobbying seeking protection and favourable regulations, and litigation.”
SERVICES AND CONTACT
I offer business and individual clients efficient and strategic advice in relation to competition/antitrust, advertising, Internet and new media law and contest law. I also offer competition and regulatory law compliance, education and policy services to companies, trade and professional associations and government agencies.
My experience includes counseling clients on the application of Canadian competition and regulatory laws and I have worked on hundreds of domestic and cross-border competition, advertising and marketing, promotional contest (sweepstakes), conspiracy (cartel), abuse of dominance, compliance, refusal to deal, pricing and distribution, Investment Canada Act and merger matters. For more information about my competition law services see: competition law services.
To contact me about a potential legal matter see: contact
For more regulatory law updates follow me on Twitter: @CanadaAttorney