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The Evolution of Competition Law in New Zealand

This monograph presents a detailed, lively, and original chronicle and analysis of New Zealand’s competition law. The modern era began with the Commerce Act 1986 and since then a steady corpus of case law has traversed all the major areas of antitrust law: cartels, resale price maintenance, exclusive dealing, tying, monopolization, predatory pricing, mergers, private and public enforcement, and so on. The volume explains the rationale for the major reforms of the Commerce Act and traces the development of key concepts such as effective competition, efficiency, market power, market definition, entry barriers, wealth transfers, and public benefit over the last 34 years. The book provides an extended critique of the landmark cases and legislative amendments. It assesses the desirable, and undesirable, aspects of competition law’s interpretation and doctrinal development by the courts and Commerce Commission. Systemic issues are explored such as: how well has New Zealand moulded its own competition law, whilst, nonetheless, selectively drawing upon the policy prescriptions, case law, and wisdom from foreign jurisdictions? How well has it adapted its competition law to the reality of it being a small, distant, isolated, deregulated, open economy? How has the transplanted Harvard School versus Chicago School debate played out in New Zealand? How have unique, if not rash, experiments such as its “light-handed” regulation for utilities worked? It concludes by drawing together the common threads that mark the modern era and offering some predictions about how the next decades of New Zealand competition law might unfold.