Varieties of capitalism, competition policy and the UK alcoholic beverages industry

Abstract

This article informs a key aspect of the business-government interface; the evolution of competition policy and how firms adapt to it. Drawing on an extensive portfolio of inquiries, what constitutes ‘the market’ and the boundaries of the firm within it is described through the experience of the UK alcoholic beverages industry. In situating competition policy in its historical socio-economic context, this study traces three overlapping eras; family ownership and control, network and conglomerates organisation, and specialisation and financialisation. Issues emerge that inform wider debate, notably the nature of portfolio and network effects, a central and contested theme in contemporary competition policy.