What is the main goal of competition policy?

The primary goal of competition policy is to benefit consumers through enhanced competition. By fostering a competitive environment, competition policy aims to ensure that market dynamics lead to lower prices, improved quality of goods and services, and greater innovation. When businesses compete, they are incentivized to optimize their operations and deliver better value to consumers, resulting in a more efficient market. This environment also discourages anti-competitive practices, which can lead to market failure and consumer harm.

In contrast, promoting monopolistic practices, protecting corporations from regulations, or encouraging price fixing would hinder competition, reduce consumer welfare, and distort market outcomes. These approaches can lead to higher prices, less choice for consumers, and decreased incentives for companies to innovate or improve their offerings.