Ask anyone in Australia’s competition law community what transformed the economy, and you will hear a familiar story. Australia was once a cartelised, complacent place where businesses divided up markets and consumers paid the price. Then came the Trade Practices Act in 1974, and competition law forced firms to compete.

This is not a fringe view. Peter Costello, in his foreword to a book marking the Act’s twenty-fifth anniversary, called it “one of the most important pieces of economic legislation in Australia.” He credited it with creating “a new culture of competition in the Australian economy.”

To read the article on The Australian website, click here.