By Cosmo Graham, Fiona Smith
As well as being the primary medium for conversation, schooling and leisure, the recent economic climate is now a number one supplier of products and providers via digital channels. the hot financial system rides at the crest of recent technological advancements in pcs, telecommunications and satellites developing new interactive mediums and from the deregulation and privatization of country owned firms within the telecommunications and broadcasting sectors. whereas the commercial viability of the dotcoms is puzzled, the life of a brand new financial system with novel tools of construction, distribution and alternate is right here to stick. proof of this is often the truth that there are three hundred million energetic pcs on the earth, with 350 million those who use the realm extensive net (expected to develop to 1 billion in 4 years), and the rate of microprocessors regularly raises, facilitating using IT. The query that's pursued within the sequence of essays during this publication is whether or not the conceptual underpinnings of pageant legislation and overseas regulatory mechanisms are enough or applicable to house the advancements raised by means of the hot economic system.
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Extra info for Competition, Regulation and the New Economy
The analysis in the two jurisdictions is very similar. 34 DOJ WorldCom/Sprint ibid para 22. 35 DOJ WorldCom/Sprint ibid para 27. 2 The analysis by the EC and US Authorities sees a market where the consumer wishing to connect to an ISP can either connect directly to a Tier 1 ISP or to a Tier 2. If he chooses to connect with a Tier 2 ISP, it is necessary for the Tier 2 ISP to be connected to a Tier 1 ISP so that the customer can connect to all other internet users. With this perspective, top-level Internet service provision is a separate market, so if one firm owned all or a substantial part of the top-level, it would hold a dominant position.
The fact that they can download single tracks is also unconvincing on its own—it points to a physical difference, but says nothing about whether this difference would affect consumer choice. That special hardware needs to be obtained to download on-line music but does not show that on-line music is a separate market. On the supply side, it is true that the structure of music supply on-line is different for the supplier, but this does not make the two markets separate for the consumer, and it is the consumer perspective which should determine the relevant product market.
The difference between the two concepts was identified by AG Jacobs: in essential facilities cases a duty to supply arises because of the facility held and is not related to any other action by the dominant firm (eg discontinuation of supplies to existing customers). Case C–7/97 Oscar Bronner  ECR I–7791 para 50. ’ (2001) 38 Common Market Law Review 397. 75 Fourteenth Report on Competition Policy (1984) paras 94–95. 76 Eg telecoms markets in Germany and France (Atlas  OJ L/239/23); transatlantic cables (BT/MCI II  OJ L/336/1); technical and administrative services in the pay TV market (MSG Media Services  OJ L/364/1); digital pay TV markets (Bertelsmann/Kirch/ Premiere above n 31).
Competition, Regulation and the New Economy by Cosmo Graham, Fiona Smith