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9 Perfect competition and monopoly: The limiting cases of market structure |
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Globalisation is generally increasing the degree of competition within national markets. Rules for the orderly conduct of trade between nations is the responsibility of the World Trade Organisation www.wto.org. See also P. Temin, ‘Globalisation’ in Oxford Review of Economic Policy, 1999. Evaluation of the success of the EU programme to create an effective single market within Europe is available on www.europa.eu.int/comm/internal_market/en/update. Monopolies in the UK are subject both to scrutiny by the Competition Commission whose website address is www.mmc.gov.uk (since it was formerly known as the Monopolies and Mergers Commission). Robin Mason explores the way in which technology may allow supermarkets to price discriminate in ‘Reward cards – who profits?’ in Economic Review, September 1999. Finally, see the symposium on globalisation in Journal of Economic Perspectives, Fall 1998.
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