Obama and the Europeanization of American Capitalism

by Soeren Kern
Pajamas Media
May 18, 2009

http://kern.pundicity.com/5606/obama-europeanization-american-capitalism

Excerpt:

The European Union made one of the most significant antitrust decisions in its history on May 13 when it found computer chip-maker Intel guilty of anticompetitive practices in Europe. Intel was fined more than €1 billion ($1.45 billion) on charges that it violated EU monopoly rules by selling chips below cost to computer makers, to the detriment of its smaller rival Advanced Micro Devices (AMD). Even though the most likely consequence of the EU's action will be higher prices for consumers, EU Competition Commissioner Neelie Kroes hailed the move. "Given that Intel has harmed millions of European consumers by deliberately acting to keep competitors out of the market for over five years, the size of the fine should come as no surprise," she declared.

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