Open AccessWhy the Commerce Act 1986 is Unfit for Purpose
Author(s) -
Geoff Bertram
Publication year - 2020
Publication title -
policy quarterly
Language(s) - English
Resource type - Journals
eISSN - 2324-1101
pISSN - 2324-1098
DOI - 10.26686/pq.v16i3.6562
Subject(s) - legislation , monopoly , state (computer science) , business , law , law and economics , economics , political science , market economy , algorithm , computer science
New Zealand’s Commerce Act 1986 overturned both common law consumer protections and previous legislation that had spelled out procedures for identifying and sanctioning the abuse of market power. Inspired by Chicago School doctrines and an anti-state philosophy, the legislation opened the way for three decades of monopoly profiteering, exploitation of the weakest consumer groups and anti-competitive conduct, while regulation has been absent or ineffective. In this article, key weaknesses in the 1986 legislation are examined, and some remedies suggested.