Skip to main content Accessibility help
×
Home
Hostname: page-component-544b6db54f-mdtzd Total loading time: 0.208 Render date: 2021-10-17T13:56:02.839Z Has data issue: true Feature Flags: { "shouldUseShareProductTool": true, "shouldUseHypothesis": true, "isUnsiloEnabled": true, "metricsAbstractViews": false, "figures": true, "newCiteModal": false, "newCitedByModal": true, "newEcommerce": true, "newUsageEvents": true }

6 - Antitrust Resurgence and Social Welfare Capitalism in Postwar Australia

Published online by Cambridge University Press:  03 May 2010

Tony A. Freyer
Affiliation:
University of Alabama
Get access

Summary

The postwar internationalization of antitrust imposed accountability upon American managerial capitalism, gradually limited cultural collusion permeating Japanese capitalism, and integrated social market capitalism to establish a more unified European community. In Australia, by contrast, the political consensus supporting the postwar resurgence of Australian antitrust instituted an enforcement regime which contested the limits of efficient market competition and social welfare. Section I of this chapter emphasizes that the High Court's constitutional decisions favoring individual economic liberty preceded the better known campaign for a trade practices law identified with Liberal attorney general, Sir Garfield Barwick. Section II examines how R. B. Bannerman, the civil servant charged with implementing the weak law of 1965, worked to reshape the political consensus, reinforcing the success of Labor's attorney general, Lionel Murphy, in passing the stronger Trade Practices Act of 1974. Section III considers the maturation of an effective enforcement regime from 1974 to 1991 and its contribution to remaking the labor-capital settlement through microeconomic reform. Section IV explores how the activist trade practices regime associated with Allan Fels was enlarged to further the reform agenda.

POSTWAR AUSTRALIAN CAPITALISM AND CONSTITUTIONAL ECONOMIC LIBERTY

From 1945 to the mid-1960s, most Australian business interests broadly supported the market stability maintained through cooperation. The benefits of standardized products, quality control, and maximum output seemed more important than restricted entry, fixed prices, and such unfair practices as larger firms' refusing to deal with certain smaller ones on the basis of discrimination, rebates, and predatory pricing.

Type
Chapter
Information
Publisher: Cambridge University Press
Print publication year: 2006

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

Send book to Kindle

To send this book to your Kindle, first ensure no-reply@cambridge.org is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about sending to your Kindle.

Note you can select to send to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be sent to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Available formats
×

Send book to Dropbox

To send content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about sending content to Dropbox.

Available formats
×

Send book to Google Drive

To send content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about sending content to Google Drive.

Available formats
×