In Monday’s Australian Financial Review Rod Sims argued: “The way I always approach issues is in two stages. Stage one is, do I think there’s economic harm? Either to the competitive process or to consumers if we’re talking about consumer issues. Has there been any detriment? And then step two is do we think we can succeed in court?”
It’s an odd way to approach competition. Both steps assume a centralised regulator knows when a market is perfectly competitive, and what drives the consumption behaviour of 22-odd million consumers.
Read the whole thing – it is very good.
Update: The Monday AFR piece is here.
There’s no milk on sale for $1 a litre where Australian Competition and Consumer Commission chairman Rod Sims does his grocery shopping – at David Jones Foodhall.
Wow. People who can afford the David Jones food hall don’t have to worry about prices much. No wonder the ACCC will undertake action to raise prices on everyone else.