ABSTRACT
This chapter attempts to lay a foundation for extending the scope of antitrust policy from national to international markets. The national and regional governments that write antitrust laws and set rules for the modern corporation are increasingly finding themselves on the defensive in the global marketplace. In the case of antitrust, tax, and regulatory issues, for example, the company can move some of its operations to a more favorable policy environment in another country. It is necessary to update antitrust laws and enforcement to conform more closely to the new realities of the global marketplace. The range of foreign government intervention in international trade must also be taken into account, including public sector subsidies to home industries and restrictions on foreign competitors. Increasingly the relevant market is virtually the entire global marketplace. It is high time that antitrust policy be updated to correspond to economic reality.
