After half a century, a new era of competition law begins
We should mark 50 years of the Trades Practices Act by recognising the need to adapt to changing times and circumstances, with the outcome of competitive and efficient markets in front of mind.
Commercial life in Australia half a century ago looked very different to what we know now. Choices were limited. Prices were rigid. Collusive and co-ordinated business behaviours were not seen as aberrations but accepted as the normal way of doing things.
