Abstract
The debate about the “just price” has ancient origin and returns forcefully to the scene when, in the event of crises of various kinds, there is a rapid and significant increase in prices of given goods or services. In this article it is examined the problem of whether price increases of such a nature could, or should, be considered illicit under EU competition law. The central part of the article reviews different theories on what a “just price” should be and focuses on the idea that a price is “just” when it functions as index of relative scarcity in free markets. It is claimed that such a function deserves protection by EU law. Therefore, price adjustments in response to shocks cannot and should not be considered illegal: it is unacceptable to sanction private firms by attributing them the wrong of not having substituted, at their own expense, for the exercise of a public function (that of making sure that price increases do not put at risk solidarity and other constitutional principles).
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.