Is it just me, or has anyone else noted the absurdity of the Australian COMPETIION and Consumer Commission investigating what can only describe as excessive competion. Although I dont really know what that means ... too much competion? prices too low? too much benefit to that other C word .. Consumers?
Maybe it means no one is looking after the little guy, the small local petrolstation, the one that bob from the footyclub runs. The one that cant compete effectively with the big boys .... For gods sake who is PROTECTING bob and his overpriced petrol from competion!
This is all rather suboptimal from a governance point of view. I mean how confusing is it for an organisation to be chartered with the protection of competition and consumers and then have to act for special interests.
If society wants to enforce inefficiency then we really should establish a new commission one with clear objectives ... the Australian Protection and Subsidisation Commission ... their mandate could be to represent vested commercial interests and block mergers on the grounds they would create too much efficiency and too low prices.
The APSC could stand against subadditivity. Its charter could be the advancement of diseconomies of scale and scope.
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