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PUBLIC MEASURES AFFECTING SMALL BUSINESS IN AUSTRALIA
Author(s) -
Kerr Alex
Publication year - 1977
Publication title -
journal of consumer studies and home economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.775
H-Index - 71
eISSN - 1470-6431
pISSN - 0309-3891
DOI - 10.1111/j.1470-6431.1977.tb00212.x
Subject(s) - monopolization , power (physics) , value (mathematics) , economic efficiency , small business , business , disadvantage , capitalism , economics , market economy , public economics , finance , monopoly , law , political science , politics , physics , quantum mechanics , machine learning , computer science
Certain institutional arrangements in Australia seem to operate to the disadvantage of small business particularly in the fields of finance, taxation and access to specialized services. But the Australian Trade Practices Act is based upon two value judgements–the acceptance of competitive capitalism as a socio‐economic system and the need to curb the misuse of economic power. This second aim, in particular has benefitted small businesses through the restriction of arrangements in restraint of trade (Section 45), through regulating monopolization (Sec. 46), through forbidding exclusive dealing (Sec. 47), through banning resale price maintenance (Sec. 48), through regulating price discrimination (Sec. 49) and through regulating mergers (Sec. 50). The misuse of economic power may be related to the concept of ‘public benefit’ or ‘social efficiency’ as contrasted to ‘economic efficiency’ and it is on these grounds that arguments for assistance to small business can be most convincingly made.