Regulating restrictive business practices

The European Union EU and its member states have a developed monopoly, merger and restrictive practice legislation although, it is less well-developed to handle restrictive practices of multi-nationals whose significance grows with globalisation. The economic welfare effects of monopolistic and other restrictive practices are likely to be more uneven in the competitive state and, therefore, increase social inequalities. The economic efficiency losses are likely to be reflected in resource wastage (i.e. negative environmental impact).