Two Forms of Modernization in European Competition Law

This Article makes two central claims. One is that the two processes are related in important ways and that neither can be fully understood without understanding the other. The other is that the relationships between the two reveal changes in the dynamics of European competition law that have so far been little noticed. This Article first sets out briefly the basic outlines of the procedural modernization process, focusing on aspects of its dynamics that are particularly relevant to the ties between it and the process of substantive modernization. It next depicts the process that I call “substantive modernization,” identifying the dimensions and dynamics of that process and revealing a story that is often not clearly perceived. I then point to some of the ways in which the two processes have been related to each other and analyze some of the implications of this relationship. Finally, I use this analysis to draw some conclusions about the current state of competition law in Europe. TWO FORMS OF MODERNIZATION IN EUROPEAN COMPETITION LAW