Andreas Mundt, the president of the Federal Cartel Office, expresses concern that political actions are increasingly undermining competition in Europe, despite the unchanged fundamental idea of competition.
In an interview with the F.A.Z., Andreas Mundt, the president of Germany's Federal Cartel Office (Bundeskartellamt), voices significant concerns regarding the relationship between politics and competition in Europe. He describes the ongoing debate surrounding European Champions as a superficial discussion, emphasizing that despite changes in the geopolitical landscape, the fundamental concept of competition should remain intact. Mundt reflects on the challenges of conveying competition policy in the current political climate, suggesting that it has become increasingly difficult to advocate for the principles of order policy.
Mundt also references a comment by Professor Malmendier, who recently left her position on the Advisory Council, stating that the principles of order policy are not well understood in the field of international economics. He argues that although some may label him conservative, he firmly believes in the long-term relevance of order policy principles, which he sees as vital for maintaining healthy competition. This notion aligns with the broader context of economic governance where the political landscape has significant implications for regulatory frameworks.
The mention of Adam Smith's 'invisible hand' highlights the challenges of regulating competition when market forces are not easily observable. Mundt's commentary serves as a crucial reminder that while political developments may dictate immediate responses, the enduring principles that govern competition must not be compromised. His concerns underline the delicate balance between political influence and market independence, especially in light of current economic trends and pressures within the EU.
