Competition law, or antitrust law, has three main elements:
• prohibiting agreements or practices that restrict free trading and competition between business. This includes in particular the repression

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Roman legislation
An early example was enacted during the Roman Republic around 50 BC. To protect the grain trade, heavy fines were imposed on anyone directly, deliberately, and insidiously stopping supply ships. Under Diocletianin

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While the development of competition law stalled in Europe during the late 19th century, in 1889 Canadaenacted what is considered the first

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Classical perspective
Under the doctrine of laissez-faire, antitrust is seen as unnecessary as competition is viewed as a long-term dynamic process where firms compete

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Collusion and cartels
Dominance and monopoly
When firms hold large market shares, consumers risk paying higher prices and getting lower quality

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• Consumer protection
• European Union competition law
• The History of the Standard Oil Company (book)

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At a national level competition law is enforced through competition authorities, as well as private enforcement. The United States Supreme Court explained:
Every violation of the

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