It’s all about efficiency

the aim of competition law in Peru

Resumen

Competition Policy is a diverse, complex field. Its scope runs from sophisticated economic

techniques to detailed legal procedures, and from the psychological factors involved in a dawn raid to the sleuthing skills required in the design of a sound research strategy. However, above all the rules and topics that structure Competition Law, the aim – i.e. the main objective – is essential to understand how it is applied and, more important, why it is applied, in what context and to what extent. Accordingly, the following pages discuss the aim of Peruvian Competition Policy, for the understanding of the basis of our competition law, and so, for a deeper comprehension of the study and discussion of particular institutions of Peruvian Competition Law. This article discusses what the Competition Act and the Competition Authority in Peru have assumed as the goal of Peruvian Competition Policy, drawing some concern on its adherence to the classic – and somewhat surpassed – Chicagoan notion of efficiency. The article supports the defense of efficiency – under a liberal «consumer welfare» approach – as the only proper aim for Competition Policy. Finally, it proposes a systemic relation between Competition Policy and other public policies with harmonic or discordant goals.