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153-490: Apart from obvious instances, which can be observed in human activity, many examples can be found in nature. When an organism takes in nutrition or oxygen , for instance, its internal organs are designed to divide and distribute the energy taken in, to supply parts of its body that need it. Flowers divide and distribute their seeds. In a broader sense, it can also include free granting of use rights to goods that can be treated as nonrival goods , such as information. File sharing

306-572: A cascade method, Swiss chemist and physicist Raoul Pierre Pictet evaporated liquid sulfur dioxide in order to liquefy carbon dioxide, which in turn was evaporated to cool oxygen gas enough to liquefy it. He sent a telegram on December 22, 1877, to the French Academy of Sciences in Paris announcing his discovery of liquid oxygen . Just two days later, French physicist Louis Paul Cailletet announced his own method of liquefying molecular oxygen. Only

459-458: A bond not to exercise his trade in the same town as the plaintiff for six months but the plaintiff had promised nothing in return. On hearing the plaintiff's attempt to enforce this restraint, Hull J exclaimed, "per Dieu, if the plaintiff were here, he should go to prison until he had paid a fine to the King". The court denied the collection of a bond for the dyer's breach of agreement because the agreement

612-477: A chemical element. The name oxygen was coined in 1777 by Antoine Lavoisier , who first recognized oxygen as a chemical element and correctly characterized the role it plays in combustion. Common industrial uses of oxygen include production of steel , plastics and textiles , brazing, welding and cutting of steels and other metals , rocket propellant , oxygen therapy , and life support systems in aircraft , submarines , spaceflight and diving . One of

765-434: A few drops of the liquid were produced in each case and no meaningful analysis could be conducted. Oxygen was liquefied in a stable state for the first time on March 29, 1883, by Polish scientists from Jagiellonian University , Zygmunt Wróblewski and Karol Olszewski . In 1891 Scottish chemist James Dewar was able to produce enough liquid oxygen for study. The first commercially viable process for producing liquid oxygen

918-427: A general rule that the state may not aid or subsidize private parties in distortion of free competition and provides exemptions for charities , regional development objectives and in the event of a natural disaster . Leading ECJ cases on competition law include Consten & Grundig v Commission and United Brands v Commission . India responded positively by opening up its economy by removing controls during

1071-526: A house). When doing so, the whole community, relatives and acquaintances helped the young couple with work, knowledge and even money. At pigsticking , all members of the community got their shares too. Superfluous plants were freely distributed to neighbours in the season. In most cultures, members of the same household tend to pool their resources. In the New Testament , John the Baptist commended sharing as

1224-481: A light sky-blue color caused by absorption in the red (in contrast with the blue color of the sky, which is due to Rayleigh scattering of blue light). High-purity liquid O 2 is usually obtained by the fractional distillation of liquefied air. Liquid oxygen may also be condensed from air using liquid nitrogen as a coolant. Liquid oxygen is a highly reactive substance and must be segregated from combustible materials. The spectroscopy of molecular oxygen

1377-560: A major role in absorbing energy from singlet oxygen and converting it to the unexcited ground state before it can cause harm to tissues. The common allotrope of elemental oxygen on Earth is called dioxygen , O 2 , the major part of the Earth's atmospheric oxygen (see Occurrence ). O 2 has a bond length of 121  pm and a bond energy of 498  kJ/mol . O 2 is used by complex forms of life, such as animals, in cellular respiration . Other aspects of O 2 are covered in

1530-532: A number of significant theoretical, legal and practical challenges. Antitrust administration and legislation can be seen as a balance between: Chapter 5 of the post-war Havana Charter contained an Antitrust code but this was never incorporated into the WTO's forerunner, the General Agreement on Tariffs and Trade 1947. Office of Fair Trading Director and Richard Whish wrote sceptically that it "seems unlikely at

1683-438: A part of air that he called spiritus nitroaereus . In one experiment, he found that placing either a mouse or a lit candle in a closed container over water caused the water to rise and replace one-fourteenth of the air's volume before extinguishing the subjects. From this, he surmised that nitroaereus is consumed in both respiration and combustion. Mayow observed that antimony increased in weight when heated, and inferred that

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1836-404: A process called eutrophication and the decay of these organisms and other biomaterials may reduce the O 2 content in eutrophic water bodies. Scientists assess this aspect of water quality by measuring the water's biochemical oxygen demand , or the amount of O 2 needed to restore it to a normal concentration. Paleoclimatologists measure the ratio of oxygen-18 and oxygen-16 in

1989-475: A product so much that one's smaller competitors cannot cover their costs and fall out of business. The Chicago school considers predatory pricing to be unlikely. However, in France Telecom SA v. Commission a broadband internet company was forced to pay $ 13.9 million for dropping its prices below its own production costs. It had "no interest in applying such prices except that of eliminating competitors" and

2142-458: A small proportion of manganese dioxide. Oxygen levels in the atmosphere are trending slightly downward globally, possibly because of fossil-fuel burning. At standard temperature and pressure , oxygen is a colorless, odorless, and tasteless gas with the molecular formula O 2 , referred to as dioxygen. As dioxygen , two oxygen atoms are chemically bound to each other. The bond can be variously described based on level of theory, but

2295-500: A system of Industrial Monopoly Licenses, similar to modern patents had been introduced into England. But by the reign of Queen Elizabeth I , the system was reputedly much abused and used merely to preserve privileges, encouraging nothing new in the way of innovation or manufacture. In response English courts developed case law on restrictive business practices. The statute followed the unanimous decision in Darcy v. Allein 1602, also known as

2448-449: A triplet electronic ground state . An electron configuration with two unpaired electrons, as is found in dioxygen orbitals (see the filled π* orbitals in the diagram) that are of equal energy—i.e., degenerate —is a configuration termed a spin triplet state. Hence, the ground state of the O 2 molecule is referred to as triplet oxygen . The highest-energy, partially filled orbitals are antibonding , and so their filling weakens

2601-570: Is a corrosive byproduct of smog and thus an air pollutant . Oxygen was isolated by Michael Sendivogius before 1604, but it is commonly believed that the element was discovered independently by Carl Wilhelm Scheele , in Uppsala , in 1773 or earlier, and Joseph Priestley in Wiltshire , in 1774. Priority is often given for Priestley because his work was published first. Priestley, however, called oxygen "dephlogisticated air", and did not recognize it as

2754-447: Is a key feature of Internet culture in which images, videos, links, knowledge and other content are shared on Web 2.0 -platforms such as reddit . Andreas Wittel said that in the modern, Internet-era discourse "Sharing now is associated with politics, with socialist , communist , and anarchist values, with the free culture movement and the digital commons " and it "is an expression of a Utopian imaginary". In computer science ,

2907-615: Is a way for national authorities to coordinate their own enforcement activities. Under the doctrine of laissez-faire , antitrust is seen as unnecessary as competition is viewed as a long-term dynamic process where firms compete against each other for market dominance . In some markets, a firm may successfully dominate, but it is because of superior skill or innovativeness. However, according to laissez-faire theorists, when it tries to raise prices to take advantage of its monopoly position it creates profitable opportunities for others to compete. A process of creative destruction begins which erodes

3060-477: Is absorbed by specialized respiratory organs called gills , through the skin or via the gut ; in terrestrial animals such as tetrapods , oxygen in air is actively taken into the body via specialized organs known as lungs , where gas exchange takes place to diffuse oxygen into the blood and carbon dioxide out, and the body's circulatory system then transports the oxygen to other tissues where cellular respiration takes place. However in insects ,

3213-498: Is also decreased, further decreasing social welfare by creating a deadweight loss . Sources of this market power are said to include the existence of externalities , barriers to entry of the market, and the free rider problem . Markets may fail to be efficient for a variety of reasons, so the exception of competition law's intervention to the rule of laissez faire is justified if government failure can be avoided. Orthodox economists fully acknowledge that perfect competition

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3366-471: Is also known as Pareto efficiency after the Italian economist Vilfredo Pareto and means that resources in an economy over the long run will go precisely to those who are willing and able to pay for them. Because rational producers will keep producing and selling, and buyers will keep buying up to the last marginal unit of possible output – or alternatively rational producers will be reduce their output to

3519-557: Is also used in some functional programming communities to refer specifically to sharing of memory between different data items to save space, otherwise known as hash consing . Resource sharing—called kaláka in Hungarian—is an old tradition in Hungary . Young couples had to build their house after marriage. Marriage itself was called házasodás in Hungarian (en: becoming the owner of

3672-614: Is an evil... After Mill, there was a shift in economic theory, which emphasized a more precise and theoretical model of competition. A simple neo-classical model of free markets holds that production and distribution of goods and services in competitive free markets maximizes social welfare . This model assumes that new firms can freely enter markets and compete with existing firms, or to use legal language, there are no barriers to entry . By this term economists mean something very specific, that competitive free markets deliver allocative , productive and dynamic efficiency. Allocative efficiency

3825-508: Is associated with the atmospheric processes of aurora and airglow . The absorption in the Herzberg continuum and Schumann–Runge bands in the ultraviolet produces atomic oxygen that is important in the chemistry of the middle atmosphere. Excited-state singlet molecular oxygen is responsible for red chemiluminescence in solution. Table of thermal and physical properties of oxygen (O 2 ) at atmospheric pressure: Naturally occurring oxygen

3978-544: Is closely connected with law on deregulation of access to markets, state aids and subsidies, the privatization of state owned assets and the establishment of independent sector regulators, among other market-oriented supply-side policies. In recent decades, competition law has been viewed as a way to provide better public services . Robert Bork argued that competition laws can produce adverse effects when they reduce competition by protecting inefficient competitors and when costs of legal intervention are greater than benefits for

4131-554: Is commonly known as trust busting . The history of competition law reaches back to the Roman Empire . The business practices of market traders, guilds and governments have always been subject to scrutiny, and sometimes severe sanctions. Since the 20th century, competition law has become global. The two largest and most influential systems of competition regulation are United States antitrust law and European Union competition law . National and regional competition authorities across

4284-469: Is composed of three stable isotopes , O , O , and O , with O being the most abundant (99.762% natural abundance ). Most O is synthesized at the end of the helium fusion process in massive stars but some is made in the neon burning process . O is primarily made by the burning of hydrogen into helium during the CNO cycle , making it a common isotope in the hydrogen burning zones of stars. Most O

4437-577: Is considered a tool to stimulate economic growth. In Korea and Japan , the competition law prevents certain forms of conglomerates . In addition, competition law has promoted fairness in China and Indonesia as well as international integration in Vietnam. Hong Kong 's Competition Ordinance came into force in the year 2015. As part of the creation of the ASEAN Economic Community, the member states of

4590-414: Is difficult to prove at what point a dominant firm's prices become "exploitative" and this category of abuse is rarely found. In one case however, a French funeral service was found to have demanded exploitative prices, and this was justified on the basis that prices of funeral services outside the region could be compared. A more tricky issue is predatory pricing . This is the practice of dropping prices of

4743-429: Is generally accompanied by the exchange of money. Oxygen Oxygen is a chemical element with the symbol   O and atomic number 8. It is a member of the chalcogen group in the periodic table , a highly reactive nonmetal , and a potent oxidizing agent that readily forms oxides with most elements as well as with other compounds . Oxygen is the most abundant element in Earth's crust , and

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4896-581: Is governed by international competition agreements. In 1945, during the negotiations preceding the adoption of the General Agreement on Tariffs and Trade (GATT) in 1947, limited international competition obligations were proposed within the Charter for an International Trade Organisation . These obligations were not included in GATT, but in 1994, with the conclusion of the Uruguay Round of GATT multilateral negotiations,

5049-678: Is more than 50 percent of countries with a population exceeding 80,000 people. 81 of the 111 countries had adopted their competition laws in the past 20 years, signaling the spread of competition law following the collapse of the Soviet Union and the expansion of the European Union . Currently competition authorities of many states closely co-operate, on everyday basis, with foreign counterparts in their enforcement efforts, also in such key area as information / evidence sharing. In many of Asia's developing countries, including India, Competition law

5202-415: Is necessary to determine whether a firm is dominant, or whether it behaves "to an appreciable extent independently of its competitors, customers and ultimately of its consumer". Under EU law, very large market shares raise a presumption that a firm is dominant, which may be rebuttable. If a firm has a dominant position, then there is "a special responsibility not to allow its conduct to impair competition on

5355-447: Is oxygen as a component of water, the major constituent of lifeforms. Oxygen in Earth's atmosphere is produced by biotic photosynthesis , in which photon energy in sunlight is captured by chlorophyll to split water molecules and then react with carbon dioxide to produce carbohydrates and oxygen is released as a byproduct . Oxygen is too chemically reactive to remain a free element in air without being continuously replenished by

5508-441: Is produced when N (made abundant from CNO burning) captures a He nucleus, making O common in the helium-rich zones of evolved, massive stars . Fifteen radioisotopes have been characterized, ranging from O to O. The most stable are O with a half-life of 122.24 seconds and O with a half-life of 70.606 seconds. All of the remaining radioactive isotopes have half-lives that are less than 27 seconds and

5661-408: Is reasonably and simply described as a covalent double bond that results from the filling of molecular orbitals formed from the atomic orbitals of the individual oxygen atoms, the filling of which results in a bond order of two. More specifically, the double bond is the result of sequential, low-to-high energy, or Aufbau , filling of orbitals, and the resulting cancellation of contributions from

5814-608: Is seldom observed in the real world, and so aim for what is called " workable competition ". This follows the theory that if one cannot achieve the ideal, then go for the second best option by using the law to tame market operation where it can. A group of economists and lawyers, who are largely associated with the University of Chicago , advocate an approach to competition law guided by the proposition that some actions that were originally considered to be anticompetitive could actually promote competition. The U.S. Supreme Court has used

5967-712: Is temperature-dependent, and about twice as much ( 14.6  mg/L ) dissolves at 0 °C than at 20 °C ( 7.6  mg/L ). At 25 °C and 1 standard atmosphere (101.3  kPa ) of air, freshwater can dissolve about 6.04  milliliters  (mL) of oxygen per liter , and seawater contains about 4.95 mL per liter. At 5 °C the solubility increases to 9.0 mL (50% more than at 25 °C) per liter for freshwater and 7.2 mL (45% more) per liter for sea water. Oxygen condenses at 90.20  K (−182.95 °C, −297.31 °F) and freezes at 54.36 K (−218.79 °C, −361.82 °F). Both liquid and solid O 2 are clear substances with

6120-462: Is the direct predecessor to modern competition law later developed in the US. It is based on the prohibition of agreements that ran counter to public policy, unless the reasonableness of an agreement could be shown. It effectively prohibited agreements designed to restrain another's trade. The 1414 Dyer's is the first known restrictive trade agreement to be examined under English common law. A dyer had given

6273-413: Is the field of law that promotes or seeks to maintain market competition by regulating anti-competitive conduct by companies. Competition law is implemented through public and private enforcement. It is also known as antitrust law (or just antitrust ), anti-monopoly law , and trade practices law ; the act of pushing for antitrust measures or attacking monopolistic companies (known as trusts )

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6426-477: Is the practice of distributing or providing access to digitally stored information, such as computer programs, multi-media (audio, video), documents, or electronic books. It may be implemented through a variety of ways. Storage, transmission, and distribution models are common methods of file sharing incorporate manual sharing using removable media , centralized computer file server installations on computer networks , World Wide Web -based hyperlinked documents, and

6579-435: Is the result of the oxygen cycle . This biogeochemical cycle describes the movement of oxygen within and between its three main reservoirs on Earth: the atmosphere, the biosphere, and the lithosphere . The main driving factor of the oxygen cycle is photosynthesis , which is responsible for modern Earth's atmosphere. Photosynthesis releases oxygen into the atmosphere, while respiration , decay , and combustion remove it from

6732-457: Is unusual among the planets of the Solar System in having such a high concentration of oxygen gas in its atmosphere: Mars (with 0.1% O 2 by volume) and Venus have much less. The O 2 surrounding those planets is produced solely by the action of ultraviolet radiation on oxygen-containing molecules such as carbon dioxide. The unusually high concentration of oxygen gas on Earth

6885-517: Is usually given priority in the discovery. The French chemist Antoine Laurent Lavoisier later claimed to have discovered the new substance independently. Priestley visited Lavoisier in October 1774 and told him about his experiment and how he liberated the new gas. Scheele had also dispatched a letter to Lavoisier on September 30, 1774, which described his discovery of the previously unknown substance, but Lavoisier never acknowledged receiving it (a copy of

7038-404: Is whether a concentration (i.e. merger or acquisition) with a community dimension (i.e. affects a number of EU member states) might significantly impede effective competition . Articles 106 and 107 provide that member state's right to deliver public services may not be obstructed, but that otherwise public enterprises must adhere to the same competition principles as companies. Article 107 lays down

7191-491: The Association of South-East Asian Nations (ASEAN) pledged to enact competition laws and policies by the end of 2015. Today, all ten member states have general competition legislation in place. While there remains differences between regimes (for example, over merger control notification rules, or leniency policies for whistle-blowers), and it is unlikely that there will be a supranational competition authority for ASEAN (akin to

7344-709: The Case of Monopolies , of the King's Bench to declare void the sole right that Queen Elizabeth I had granted to Darcy to import playing cards into England. Darcy, an officer of the Queen's household, claimed damages for the defendant's infringement of this right. The court found the grant void and that three characteristics of monopoly were (1) price increases, (2) quality decrease, (3) the tendency to reduce artificers to idleness and beggary. This put an end to granted monopolies until King James I began to grant them again. In 1623 Parliament passed

7497-655: The Earth , the Moon , Mars , and meteorites , but were long unable to obtain reference values for the isotope ratios in the Sun , believed to be the same as those of the primordial solar nebula . Analysis of a silicon wafer exposed to the solar wind in space and returned by the crashed Genesis spacecraft has shown that the Sun has a higher proportion of oxygen-16 than does the Earth. The measurement implies that an unknown process depleted oxygen-16 from

7650-463: The Earth's crust in the form of various oxides such as water , carbon dioxide , iron oxides and silicates . All eukaryotic organisms , including plants , animals , fungi , algae and most protists , need oxygen for cellular respiration , which extracts chemical energy by the reaction of oxygen with organic molecules derived from food and releases carbon dioxide as a waste product. In aquatic animals , dissolved oxygen in water

7803-750: The Economic liberalisation . In quest of increasing the efficiency of the nation's economy, the Government of India acknowledged the Liberalization Privatization Globalization era. As a result, Indian market faces competition from within and outside the country. This led to the need of a strong legislation to dispense justice in commercial matters and the Competition Act, 2002 was passed. The history of competition law in India dates back to

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7956-688: The European Commission was no longer the only body capable of public enforcement of European Union competition law . This was done to facilitate quicker resolution of competition-related inquiries. In 2005 the Commission issued a Green Paper on Damages actions for the breach of the EC antitrust rules , which suggested ways of making private damages claims against cartels easier. Some EU Member States enforce their competition laws with criminal sanctions. As analysed by Whelan , these types of sanctions engender

8109-556: The Greek roots ὀξύς (oxys) ( acid , literally 'sharp', from the taste of acids) and -γενής (-genēs) (producer, literally begetter), because he mistakenly believed that oxygen was a constituent of all acids. Chemists (such as Sir Humphry Davy in 1812) eventually determined that Lavoisier was wrong in this regard, but by then the name was too well established. Oxygen entered the English language despite opposition by English scientists and

8262-563: The Statute of Monopolies , which for the most part excluded patent rights from its prohibitions, as well as guilds. From King Charles I , through the civil war and to King Charles II , monopolies continued, especially useful for raising revenue. Then in 1684, in East India Company v. Sandys it was decided that exclusive rights to trade only outside the realm were legitimate, on the grounds that only large and powerful concerns could trade in

8415-721: The Treaty of Rome , also known as the EC Treaty, which established the European Economic Community (EEC). The Treaty of Rome established the enactment of competition law as one of the main aims of the EEC through the "institution of a system ensuring that competition in the common market is not distorted". The two central provisions on EU competition law on companies were established in article 85, which prohibited anti-competitive agreements, subject to some exemptions, and article 86 prohibiting

8568-474: The World Trade Organization (WTO) was created. The Agreement Establishing the WTO included a range of limited provisions on various cross-border competition issues on a sector specific basis. Competition law has failed to prevent monopolization of economic activity. "The global economy is dominated by a handful of powerful transnational corporations (TNCs). ... Only 737 top holders accumulate 80% of

8721-517: The frontier of its possible production . Dynamic efficiency refers to the idea that business which constantly competes must research, create and innovate to keep its share of consumers. This traces to Austrian-American political scientist Joseph Schumpeter 's notion that a "perennial gale of creative destruction" is ever sweeping through capitalist economies, driving enterprise at the market's mercy. This led Schumpeter to argue that monopolies did not need to be broken up (as with Standard Oil ) because

8874-470: The shells and skeletons of marine organisms to determine the climate millions of years ago (see oxygen isotope ratio cycle ). Seawater molecules that contain the lighter isotope , oxygen-16, evaporate at a slightly faster rate than water molecules containing the 12% heavier oxygen-18, and this disparity increases at lower temperatures. During periods of lower global temperatures, snow and rain from that evaporated water tends to be higher in oxygen-16, and

9027-430: The thermal decomposition of potassium nitrate . In Bugaj's view, the isolation of oxygen and the proper association of the substance to that part of air which is required for life, provides sufficient evidence for the discovery of oxygen by Sendivogius. This discovery of Sendivogius was however frequently denied by the generations of scientists and chemists which succeeded him. It is also commonly claimed that oxygen

9180-553: The 17th and the 18th century but none of them recognized it as a chemical element . This may have been in part due to the prevalence of the philosophy of combustion and corrosion called the phlogiston theory , which was then the favored explanation of those processes. Established in 1667 by the German alchemist J. J. Becher , and modified by the chemist Georg Ernst Stahl by 1731, phlogiston theory stated that all combustible materials were made of two parts. One part, called phlogiston,

9333-476: The 1880s controlled several markets, including the market in fuel oil , lead and whiskey . Vast numbers of citizens became sufficiently aware and publicly concerned about how the trusts negatively impacted them that the Act became a priority for both major parties. A primary concern of this act is that competitive markets themselves should provide the primary regulation of prices, outputs, interests and profits. Instead,

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9486-487: The 1960s when the first competition law, namely the Monopolies and Restrictive Trade Practices Act (MRTP) was enacted in 1969. But after the economic reforms in 1991, this legislation was found to be obsolete in many aspects and as a result, a new competition law in the form of the Competition Act, 2002 was enacted in 2003. The Competition Commission of India , is the quasi judicial body established for enforcing provisions of

9639-531: The 2s electrons, after sequential filling of the low σ and σ orbitals; σ overlap of the two atomic 2p orbitals that lie along the O–O molecular axis and π overlap of two pairs of atomic 2p orbitals perpendicular to the O–O molecular axis, and then cancellation of contributions from the remaining two 2p electrons after their partial filling of the π orbitals. This combination of cancellations and σ and π overlaps results in dioxygen's double-bond character and reactivity, and

9792-460: The Act outlawed anticompetitive practices, codifying the common law restraint of trade doctrine. Rudolph Peritz has argued that competition law in the United States has evolved around two sometimes conflicting concepts of competition: first that of individual liberty, free of government intervention, and second a fair competitive environment free of excessive economic power . Since the enactment of

9945-527: The American scientist Robert H. Goddard became the first person to develop a rocket engine that burned liquid fuel; the engine used gasoline for fuel and liquid oxygen as the oxidizer . Goddard successfully flew a small liquid-fueled rocket 56 m at 97 km/h on March 16, 1926, in Auburn, Massachusetts , US. In academic laboratories, oxygen can be prepared by heating together potassium chlorate mixed with

10098-542: The Chicago school approach in several recent cases. One view of the Chicago school approach to antitrust is found in United States Circuit Court of Appeals Judge Richard Posner 's books Antitrust Law and Economic Analysis of Law . Robert Bork was highly critical of court decisions on United States antitrust law in a series of law review articles and his book The Antitrust Paradox . Bork argued that both

10251-749: The Clayton Act, and in the European Union, under the Merger Regulation 139/2004 (known as the "ECMR"). Competition law requires that firms proposing to merge gain authorization from the relevant government authority. The theory behind mergers is that transaction costs can be reduced compared to operating on an open market through bilateral contracts. Concentrations can increase economies of scale and scope. However often firms take advantage of their increase in market power, their increased market share and decreased number of competitors, which can adversely affect

10404-498: The Competition Act. The Anti Monopoly Law of China came into effect in 2008. For years, it was enforced by three different branches of government, but since 2018 its enforcement has been the responsibility of the State Administration for Market Regulation . The People's Daily reported that the law had generated 11 billion RMB of penalties between 2008 and 2018. By 2008, 111 countries had enacted competition laws, which

10557-793: The European Union), there is a clear trend towards increase in infringement investigations or decisions on cartel enforcement. Competition law is enforced at the national level through competition authorities, as well as private enforcement. The United States Supreme Court explained: Every violation of the antitrust laws is a blow to the free-enterprise system envisaged by Congress. This system depends on strong competition for its health and vigor, and strong competition depends, in turn, on compliance with antitrust legislation. In enacting these laws, Congress had many means at its disposal to penalize violators. It could have, for example, required violators to compensate federal, state, and local governments for

10710-612: The Hart–Scott–Rodino Antitrust Improvements Act of 1976 , mergers and acquisitions came into additional scrutiny from U.S. regulators. Under the act, parties must make a pre-merger notification to the U.S. Department of Justice and Federal Trade Commission prior to the completion of a transaction. As of February 2, 2021, the FTC reduced the Hart-Scott-Rodino reporting threshold to $ 92 million in combined assets for

10863-477: The Impeachment, Disturbance, Defeating or Decay of the said Staples, or of anything that to them pertaineth, or may pertain. In continental Europe, competition principles developed in lex mercatoria . Examples of legislation enshrining competition principles include the constitutiones juris metallici by Wenceslaus II of Bohemia between 1283 and 1305, condemning combination of ore traders increasing prices;

11016-586: The Municipal Statutes of Florence in 1322 and 1325 followed Zeno 's legislation against state monopolies; and under Emperor Charles V in the Holy Roman Empire a law was passed "to prevent losses resulting from monopolies and improper contracts which many merchants and artisans made in the Netherlands". In 1553, Henry VIII of England reintroduced tariffs for foodstuffs, designed to stabilize prices, in

11169-478: The Philosopher's Stone drawn from the source of nature and manual experience"] (1604) described a substance contained in air, referring to it as 'cibus vitae' (food of life, ) and according to Polish historian Roman Bugaj, this substance is identical with oxygen. Sendivogius, during his experiments performed between 1598 and 1604, properly recognized that the substance is equivalent to the gaseous byproduct released by

11322-533: The Prevention and Suppression of Combinations formed in restraint of Trade was passed one year before the United States enacted the most famous legal statute on competition law, the Sherman Act of 1890. It was named after Senator John Sherman who argued that the Act "does not announce a new principle of law, but applies old and well recognised principles of common law". The Sherman Act of 1890 attempted to outlaw

11475-457: The Sherman Act enforcement of competition law has been based on various economic theories adopted by Government. Section 1 of the Sherman Act declared illegal "every contract, in the form of trust or otherwise, or conspiracy, in restraint of trade or commerce among the several States, or with foreign nations." Section 2 prohibits monopolies , or attempts and conspiracies to monopolize. Following

11628-438: The Sun's disk of protoplanetary material prior to the coalescence of dust grains that formed the Earth. Oxygen presents two spectrophotometric absorption bands peaking at the wavelengths 687 and 760  nm . Some remote sensing scientists have proposed using the measurement of the radiance coming from vegetation canopies in those bands to characterize plant health status from a satellite platform. This approach exploits

11781-572: The United States, became the first European countries to adopt fully fledged competition laws. At a regional level EU competition law has its origins in the European Coal and Steel Community (ECSC) agreement between France, Italy , Belgium , the Netherlands , Luxembourg and Germany in 1951 following the Second World War. The agreement aimed to prevent Germany from re-establishing dominance in

11934-595: The abuse of dominant position. The treaty also established principles on competition law for member states, with article 90 covering public undertakings, and article 92 making provisions on state aid. Regulations on mergers were not included as member states could not establish consensus on the issue at the time. Today, the Treaty of Lisbon prohibits anti-competitive agreements in Article 101(1), including price fixing . According to Article 101(2) any such agreements are automatically void. Article 101(3) establishes exemptions, if

12087-493: The atmosphere. In the present equilibrium, production and consumption occur at the same rate. Free oxygen also occurs in solution in the world's water bodies. The increased solubility of O 2 at lower temperatures (see Physical properties ) has important implications for ocean life, as polar oceans support a much higher density of life due to their higher oxygen content. Water polluted with plant nutrients such as nitrates or phosphates may stimulate growth of algae by

12240-468: The basic principles of the free market . Market sharing mainly occur in the form of cartels like the Guadalajara Cartel , which was the first Mexican drug cartel to consolidate the production and supply of illegal marijuana into a single organization. Sharing in a market may also refer to the temporary or permanent transfer of information and other physical as well as intellectual property, but this

12393-412: The bond order from three to two. Because of its unpaired electrons, triplet oxygen reacts only slowly with most organic molecules, which have paired electron spins; this prevents spontaneous combustion. In the triplet form, O 2 molecules are paramagnetic . That is, they impart magnetic character to oxygen when it is in the presence of a magnetic field, because of the spin magnetic moments of

12546-469: The collusion is for distributional or technological innovation, gives consumers a "fair share" of the benefit and does not include unreasonable restraints that risk eliminating competition anywhere (or compliant with the general principle of European Union law of proportionality ). Article 102 prohibits the abuse of dominant position , such as price discrimination and exclusive dealing. Regulation 139/2004/EC governs mergers between firms. The general test

12699-465: The common market". Similarly as with collusive conduct, market shares are determined with reference to the particular market in which the firm and product in question is sold. Then although the lists are seldom closed, certain categories of abusive conduct are usually prohibited under the country's legislation. For instance, limiting production at a shipping port by refusing to raise expenditure and update technology could be abusive. Tying one product into

12852-557: The conditions prevailing overseas. The development of early competition law in England and Europe progressed with the diffusion of writings such as The Wealth of Nations by Adam Smith , who first established the concept of the market economy . At the same time industrialisation replaced the individual artisan , or group of artisans, with paid labourers and machine-based production. Commercial success became increasingly dependent on maximizing production while minimizing cost. Therefore,

13005-536: The constitution of Zeno of 483 A.D., which can be traced into Florentine municipal laws of 1322 and 1325. This provided for confiscation of property and banishment for any trade combination or joint action of monopolies private or granted by the Emperor. Zeno rescinded all previously granted exclusive rights. Justinian I subsequently introduced legislation to pay officials to manage state monopolies. Legislation in England to control monopolies and restrictive practices

13158-499: The consumers. An early example was enacted during the Roman Republic around 50 BC. To protect the grain trade , heavy fines were imposed on anyone directly, deliberately, and insidiously stopping supply ships. Under Diocletian in 301 A.D., an edict imposed the death penalty for anyone violating a tariff system, for example by buying up, concealing, or contriving the scarcity of everyday goods. More legislation came under

13311-474: The control over the value of all ... network control is much more unequally distributed than wealth. In particular, the top ranked actors hold a control ten times bigger than what could be expected based on their wealth. ... Recent works have shown that when a financial network is very densely connected it is prone to systemic risk. Indeed, while in good times the network is seemingly robust, in bad times firms go into distress simultaneously. This knife-edge property

13464-422: The courts found specific categories of agreement, specific clauses, to fall foul of their doctrine on economic fairness, and they did not contrive an overarching conception of market power. Earlier theorists like Adam Smith rejected any monopoly power on this basis. A monopoly granted either to an individual or to a trading company has the same effect as a secret in trade or manufactures. The monopolists, by keeping

13617-402: The current stage of its development that the WTO will metamorphose into a global competition authority". Despite that, at the ongoing Doha round of trade talks for the World Trade Organization , discussion includes the prospect of competition law enforcement moving up to a global level. While it is incapable of enforcement itself, the newly established International Competition Network (ICN)

13770-481: The deal that consumers get. Merger control is about predicting what the market might be like, not knowing and making a judgment. Hence the central provision under EU law asks whether a concentration would , if it went ahead, "significantly impede effective competition... in particular as a result of the creation or strengthening off a dominant position..." and the corresponding provision under US antitrust states similarly, No person shall acquire, directly or indirectly,

13923-444: The diatomic elemental molecules in those gases. The first commercial method of producing oxygen was chemical, the so-called Brin process involving a reversible reaction of barium oxide . It was invented in 1852 and commercialized in 1884, but was displaced by newer methods in early 20th century. By the late 19th century scientists realized that air could be liquefied and its components isolated by compressing and cooling it. Using

14076-466: The electron spins are paired. It is much more reactive with common organic molecules than is normal (triplet) molecular oxygen. In nature, singlet oxygen is commonly formed from water during photosynthesis, using the energy of sunlight. It is also produced in the troposphere by the photolysis of ozone by light of short wavelength and by the immune system as a source of active oxygen. Carotenoids in photosynthetic organisms (and possibly animals) play

14229-464: The enactment in 1890 US court applies these principles to business and markets. Courts applied the Act without consistent economic analysis until 1914, when it was complemented by the Clayton Act which specifically prohibited exclusive dealing agreements, particularly tying agreements and interlocking directorates, and mergers achieved by purchasing stock. From 1915 onwards the rule of reason analysis

14382-400: The estimated damage to their respective economies caused by the violations. But, this remedy was not selected. Instead, Congress chose to permit all persons to sue to recover three times their actual damages every time they were injured in their business or property by an antitrust violation. In the European Union , the so-called "Modernisation Regulation", Regulation 1/2003, established that

14535-478: The existence of a very high market share does not always mean consumers are paying excessive prices since the threat of new entrants to the market can restrain a high-market-share firm's price increases. Competition law does not make merely having a monopoly illegal, but rather abusing the power that a monopoly may confer, for instance through exclusionary practices. Market dominance is connected with decreased innovation and increased political connectedness. First, it

14688-550: The face of fluctuations in supply from overseas. So the legislation read here that whereas, it is very hard and difficult to put certain prices to any such things ... [it is necessary because] prices of such victuals be many times enhanced and raised by the Greedy Covetousness and Appetites of the Owners of such Victuals, by occasion of ingrossing and regrating the same, more than upon any reasonable or just ground or cause, to

14841-421: The fact that in those bands it is possible to discriminate the vegetation's reflectance from its fluorescence , which is much weaker. The measurement is technically difficult owing to the low signal-to-noise ratio and the physical structure of vegetation; but it has been proposed as a possible method of monitoring the carbon cycle from satellites on a global scale. Antitrust laws Competition law

14994-563: The fact that the Englishman Priestley had first isolated the gas and written about it. This is partly due to a poem praising the gas titled "Oxygen" in the popular book The Botanic Garden (1791) by Erasmus Darwin , grandfather of Charles Darwin . John Dalton 's original atomic hypothesis presumed that all elements were monatomic and that the atoms in compounds would normally have the simplest atomic ratios with respect to one another. For example, Dalton assumed that water's formula

15147-399: The first known experiments on the relationship between combustion and air was conducted by the 2nd century BCE Greek writer on mechanics, Philo of Byzantium . In his work Pneumatica , Philo observed that inverting a vessel over a burning candle and surrounding the vessel's neck with water resulted in some water rising into the neck. Philo incorrectly surmised that parts of the air in

15300-467: The great damage and impoverishing of the King's subjects. Around this time organizations representing various tradesmen and handicrafts people, known as guilds had been developing, and enjoyed many concessions and exemptions from the laws against monopolies. The privileges conferred were not abolished until the Municipal Corporations Act 1835. The English common law of restraint of trade

15453-627: The grounds that it did not harm consumers. Running through the different critiques of US antitrust policy is the common theme that government interference in the operation of free markets does more harm than good. "The only cure for bad theory," writes Bork, "is better theory." Harvard Law School professor Philip Areeda , who favours more aggressive antitrust policy, in at least one Supreme Court case challenged Robert Bork's preference for non-intervention. When firms hold large market shares, consumers risk paying higher prices and getting lower quality products than compared to competitive markets. However,

15606-441: The hands of fewer than before. This usually means that one firm buys out the shares of another. The reasons for oversight of economic concentrations by the state are the same as the reasons to restrict firms who abuse a position of dominance, only that regulation of mergers and acquisitions attempts to deal with the problem before it arises, ex ante prevention of market dominance. In the United States merger regulation began under

15759-399: The idea; instead, it was based on observations of what happens when something burns, that most common objects appear to become lighter and seem to lose something in the process. Polish alchemist , philosopher , and physician Michael Sendivogius (Michał Sędziwój) in his work De Lapide Philosophorum Tractatus duodecim e naturae fonte et manuali experientia depromti ["Twelve Treatises on

15912-431: The issue of handling shared resources figures prominently. For example, time-sharing is an approach to interactive computing in which a single computer is used to provide apparently simultaneous interactive general-purpose computing to multiple users by sharing processor time. Sharing of resources between processes and threads is the source of most of the difficulties of concurrent programming . The word "sharing"

16065-552: The jurisdiction of society... both the cheapness and the good quality of commodities are most effectually provided for by leaving the producers and sellers perfectly free, under the sole check of equal freedom to the buyers for supplying themselves elsewhere. This is the so-called doctrine of Free Trade, which rests on grounds different from, though equally solid with, the principle of individual liberty asserted in this Essay. Restrictions on trade, or on production for purposes of trade, are indeed restraints; and all restraint, qua restraint,

16218-535: The late 19th century, a depression spread through Europe, known as the Panic of 1873 , ideas of competition lost favour, and it was felt that companies had to co-operate by forming cartels to withstand huge pressures on prices and profits. While the development of competition law stalled in Europe during the late 19th century, in 1889 Canada enacted what is considered the first competition statute of modern times. The Act for

16371-421: The latter half of the 19th century, it had become clear that large firms had become a fact of the market economy. John Stuart Mill 's approach was laid down in his treatise On Liberty (1859). Again, trade is a social act. Whoever undertakes to sell any description of goods to the public, does what affects the interest of other persons, and of society in general; and thus his conduct, in principle, comes within

16524-499: The letter was found in Scheele's belongings after his death). Lavoisier conducted the first adequate quantitative experiments on oxidation and gave the first correct explanation of how combustion works. He used these and similar experiments, all started in 1774, to discredit the phlogiston theory and to prove that the substance discovered by Priestley and Scheele was a chemical element . In one experiment, Lavoisier observed that there

16677-428: The majority of these have half-lives that are less than 83 milliseconds. The most common decay mode of the isotopes lighter than O is β decay to yield nitrogen, and the most common mode for the isotopes heavier than O is beta decay to yield fluorine . Oxygen is the most abundant chemical element by mass in the Earth's biosphere , air, sea and land. Oxygen is the third most abundant chemical element in

16830-537: The margin at which buyers will buy the same amount as produced – there is no waste, the greatest number wants of the greatest number of people become satisfied and utility is perfected because resources can no longer be reallocated to make anyone better off without making someone else worse off; society has achieved allocative efficiency. Productive efficiency simply means that society is making as much as it can. Free markets are meant to reward those who work hard , and therefore those who will put society's resources towards

16983-458: The mark of a new way of life : "If you have two shirts, share with the person who does not have one. If you have food, share that also." Market sharing occurs when competitors agree to divide or allocate customers, suppliers or territories among themselves rather than allowing competitive market forces to work. Market sharing can include: Also agreeing not to: Market sharing is generally an illegal practice as it violates antitrust laws and

17136-400: The market constantly under-stocked, by never fully supplying the effectual demand, sell their commodities much above the natural price, and raise their emoluments, whether they consist in wages or profit, greatly above their natural rate. In The Wealth of Nations (1776) Adam Smith also pointed out the cartel problem, but did not advocate specific legal measures to combat them. People of

17289-448: The monopoly. Therefore, government should not try to break up monopoly but should allow the market to work. The classical perspective on competition was that certain agreements and business practice could be an unreasonable restraint on the individual liberty of tradespeople to carry on their livelihoods. Restraints were judged as permissible or not by courts as new cases appeared and in the light of changing business circumstances. Hence

17442-418: The most successful and biodiverse terrestrial clade , oxygen is directly conducted to the internal tissues via a deep network of airways . Many major classes of organic molecules in living organisms contain oxygen atoms, such as proteins , nucleic acids , carbohydrates and fats , as do the major constituent inorganic compounds of animal shells, teeth, and bone. Most of the mass of living organisms

17595-414: The next gale of economic innovation would do the same. Contrasting with the allocatively, productively and dynamically efficient market model are monopolies, oligopolies, and cartels. When only one or a few firms exist in the market, and there is no credible threat of the entry of competing firms, prices rise above the competitive level, to either a monopolistic or oligopolistic equilibrium price. Production

17748-494: The nitroaereus must have combined with it. He also thought that the lungs separate nitroaereus from air and pass it into the blood and that animal heat and muscle movement result from the reaction of nitroaereus with certain substances in the body. Accounts of these and other experiments and ideas were published in 1668 in his work Tractatus duo in the tract "De respiratione". Robert Hooke , Ole Borch , Mikhail Lomonosov , and Pierre Bayen all produced oxygen in experiments in

17901-419: The original intention of antitrust laws and economic efficiency was the pursuit only of consumer welfare, the protection of competition rather than competitors. Furthermore, only a few acts should be prohibited, namely cartels that fix prices and divide markets, mergers that create monopolies, and dominant firms pricing predatorily, while allowing such practices as vertical agreements and price discrimination on

18054-451: The photosynthetic activities of autotrophs such as cyanobacteria , chloroplast -bearing algae and plants. A much rarer triatomic allotrope of oxygen , ozone ( O 3 ), strongly absorbs the UVB and UVC wavelengths and forms a protective ozone layer at the lower stratosphere , which shields the biosphere from ionizing ultraviolet radiation . However, ozone present at the surface

18207-508: The price of a commodity ... to the disadvantage of the public should be punished as misdemeanours". Austria passed a law in 1870 abolishing the penalties, though such agreements remained void. However, in Germany laws clearly validated agreements between firms to raise prices. Throughout the 18th and 19th centuries, ideas that dominant private companies or legal monopolies could excessively restrict trade were further developed in Europe. However, as in

18360-486: The production of coal and steel as it was felt that this dominance had contributed to the outbreak of the war. Article 65 of the agreement banned cartels and article 66 made provisions for concentrations, or mergers, and the abuse of a dominant position by companies. This was the first time that competition law principles were included in a plurilateral regional agreement and established the trans-European model of competition law. In 1957 competition rules were included in

18513-455: The remainder of this article. Trioxygen ( O 3 ) is usually known as ozone and is a very reactive allotrope of oxygen that is damaging to lung tissue. Ozone is produced in the upper atmosphere when O 2 combines with atomic oxygen made by the splitting of O 2 by ultraviolet (UV) radiation. Since ozone absorbs strongly in the UV region of the spectrum , the ozone layer of

18666-587: The restriction of competition by large companies, who co-operated with rivals to fix outputs, prices and market shares, initially through pools and later through trusts . Trusts first appeared in the US railroads, where the capital requirement of railroad construction precluded competitive services in then scarcely settled territories. This trust allowed railroads to discriminate on rates imposed and services provided to consumers and businesses and to destroy potential competitors. Different trusts could be dominant in different industries. The Standard Oil Company trust in

18819-546: The sale of another can be considered abuse too, being restrictive of consumer choice and depriving competitors of outlets. This was the alleged case in Microsoft v. Commission leading to an eventual fine of million for including its Windows Media Player with the Microsoft Windows platform. A refusal to supply a facility which is essential for all businesses attempting to compete to use can constitute an abuse. One example

18972-503: The same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices. It is impossible indeed to prevent such meetings, by any law which either could be executed, or would be consistent with liberty and justice. But though the law cannot hinder people of the same trade from sometimes assembling together, it ought to do nothing to facilitate such assemblies; much less to render them necessary. By

19125-414: The seawater left behind tends to be higher in oxygen-18. Marine organisms then incorporate more oxygen-18 into their skeletons and shells than they would in a warmer climate. Paleoclimatologists also directly measure this ratio in the water molecules of ice core samples as old as hundreds of thousands of years. Planetary geologists have measured the relative quantities of oxygen isotopes in samples from

19278-586: The size of a company became increasingly important, and a number of European countries responded by enacting laws to regulate large companies that restricted trade. Following the French Revolution in 1789 the law of 14–17 June 1791 declared agreements by members of the same trade that fixed the price of an industry or labour as void, unconstitutional, and hostile to liberty. Similarly, the Austrian Penal Code of 1852 established that "agreements ... to raise

19431-459: The statute stated that overcharging merchants must pay the injured party double the sum he received, an idea that has been replicated in punitive treble damages under US antitrust law . Also under Edward III, the following statutory provision outlawed trade combination. ... we have ordained and established, that no merchant or other shall make Confederacy, Conspiracy, Coin, Imagination, or Murmur, or Evil Device in any point that may turn to

19584-475: The third-most abundant element in the universe after hydrogen and helium . At standard temperature and pressure , two oxygen atoms will bind covalently to form dioxygen , a colorless and odorless diatomic gas with the chemical formula O 2 . Dioxygen gas currently constitutes 20.95% molar fraction of the Earth's atmosphere , though this has changed considerably over long periods of time in Earth's history . Oxygen makes up almost half of

19737-591: The transaction. Competition law gained new recognition in Europe in the inter-war years, with Germany enacting its first anti-cartel law in 1923 and Sweden and Norway adopting similar laws in 1925 and 1926 respectively. However, with the Great Depression of 1929 competition law disappeared from Europe and was revived following the Second World War when the United Kingdom and Germany, following pressure from

19890-486: The universe, after hydrogen and helium. About 0.9% of the Sun 's mass is oxygen. Oxygen constitutes 49.2% of the Earth's crust by mass as part of oxide compounds such as silicon dioxide and is the most abundant element by mass in the Earth's crust . It is also the major component of the world's oceans (88.8% by mass). Oxygen gas is the second most common component of the Earth's atmosphere , taking up 20.8% of its volume and 23.1% of its mass (some 10 tonnes). Earth

20043-401: The unpaired electrons in the molecule, and the negative exchange energy between neighboring O 2 molecules. Liquid oxygen is so magnetic that, in laboratory demonstrations, a bridge of liquid oxygen may be supported against its own weight between the poles of a powerful magnet. Singlet oxygen is a name given to several higher-energy species of molecular O 2 in which all

20196-435: The upper atmosphere functions as a protective radiation shield for the planet. Near the Earth's surface, it is a pollutant formed as a by-product of automobile exhaust . At low earth orbit altitudes, sufficient atomic oxygen is present to cause corrosion of spacecraft . The metastable molecule tetraoxygen ( O 4 ) was discovered in 2001, and was assumed to exist in one of the six phases of solid oxygen . It

20349-506: The use of distributed peer-to-peer networking (see peer-to-peer file sharing ). Sharing is a key feature in the developing field of free software and open source software , with implications for economics. This is leading to a need to review licensing , patents and copyright , and to controversy in these areas, as well as new approaches like Creative Commons and the GNU General Public License . Furthermore, sharing

20502-451: The vessel were converted into the classical element fire and thus were able to escape through pores in the glass. Many centuries later Leonardo da Vinci built on Philo's work by observing that a portion of air is consumed during combustion and respiration . In the late 17th century, Robert Boyle proved that air is necessary for combustion. English chemist John Mayow (1641–1679) refined this work by showing that fire requires only

20655-561: The world have formed international support and enforcement networks. Modern competition law has historically evolved on a national level to promote and maintain fair competition in markets principally within the territorial boundaries of nation-states . National competition law usually does not cover activity beyond territorial borders unless it has significant effects at nation-state level. Countries may allow for extraterritorial jurisdiction in competition cases based on so-called "effects doctrine". The protection of international competition

20808-428: Was HO, leading to the conclusion that the atomic mass of oxygen was 8 times that of hydrogen, instead of the modern value of about 16. In 1805, Joseph Louis Gay-Lussac and Alexander von Humboldt showed that water is formed of two volumes of hydrogen and one volume of oxygen; and by 1811 Amedeo Avogadro had arrived at the correct interpretation of water's composition, based on what is now called Avogadro's law and

20961-442: Was being cross-subsidized to capture the lion's share of a booming market. One last category of pricing abuse is price discrimination . An example of this could be a company offering rebates to industrial customers who export their sugar, but not to customers who are selling their goods in the same market. According to The World Bank's "Republic of Armenia Accumulation, Competition, and Connectivity Global Competition" report which

21114-408: Was first discovered by Swedish pharmacist Carl Wilhelm Scheele . He had produced oxygen gas by heating mercuric oxide (HgO) and various nitrates in 1771–72. Scheele called the gas "fire air" because it was then the only known agent to support combustion. He wrote an account of this discovery in a manuscript titled Treatise on Air and Fire , which he sent to his publisher in 1775. That document

21267-688: Was frequently applied by courts to competition cases. However, the period was characterized by the lack of competition law enforcement. From 1936 to 1972 courts' application of antitrust law was dominated by the structure-conduct-performance paradigm of the Harvard School. From 1973 to 1991, the enforcement of antitrust law was based on efficiency explanations as the Chicago School became dominant, and through legal writings such as Judge Robert Bork 's book The Antitrust Paradox . Since 1992 game theory has frequently been used in antitrust cases. With

21420-451: Was given off when the substance containing it was burned, while the dephlogisticated part was thought to be its true form, or calx . Highly combustible materials that leave little residue , such as wood or coal, were thought to be made mostly of phlogiston; non-combustible substances that corrode, such as iron, contained very little. Air did not play a role in phlogiston theory, nor were any initial quantitative experiments conducted to test

21573-434: Was held to be a restriction on trade. English courts subsequently decided a range of cases which gradually developed competition related case law, which eventually were transformed into statute law . Europe around the 16th century was changing quickly. The new world had just been opened up, overseas trade and plunder was pouring wealth through the international economy and attitudes among businessmen were shifting. In 1561

21726-445: Was in a case involving a medical company named Commercial Solvents . When it set up its own rival in the tuberculosis drugs market, Commercial Solvents were forced to continue supplying a company named Zoja with the raw materials for the drug. Zoja was the only market competitor, so without the court forcing supply, all competition would have been eliminated. Forms of abuse relating directly to pricing include price exploitation. It

21879-518: Was in force well before the Norman Conquest . The Domesday Book recorded that " foresteel " (i.e. forestalling, the practice of buying up goods before they reach market and then inflating the prices) was one of three forfeitures that King Edward the Confessor could carry out through England. But concern for fair prices also led to attempts to directly regulate the market. Under Henry III an act

22032-491: Was independently developed in 1895 by German engineer Carl von Linde and British engineer William Hampson . Both men lowered the temperature of air until it liquefied and then distilled the component gases by boiling them off one at a time and capturing them separately. Later, in 1901, oxyacetylene welding was demonstrated for the first time by burning a mixture of acetylene and compressed O 2 . This method of welding and cutting metal later became common. In 1923,

22185-445: Was no overall increase in weight when tin and air were heated in a closed container. He noted that air rushed in when he opened the container, which indicated that part of the trapped air had been consumed. He also noted that the tin had increased in weight and that increase was the same as the weight of the air that rushed back in. This and other experiments on combustion were documented in his book Sur la combustion en général , which

22338-462: Was not sensibly different from that of common air , but I fancied that my breast felt peculiarly light and easy for some time afterwards." Priestley published his findings in 1775 in a paper titled "An Account of Further Discoveries in Air", which was included in the second volume of his book titled Experiments and Observations on Different Kinds of Air . Because he published his findings first, Priestley

22491-510: Was passed in 1266 to fix bread and ale prices in correspondence with grain prices laid down by the assizes . Penalties for breach included amercements , pillory and tumbrel . A 14th-century statute labelled forestallers as "oppressors of the poor and the community at large and enemies of the whole country". Under King Edward III the Statute of Labourers of 1349 fixed wages of artificers and workmen and decreed that foodstuffs should be sold at reasonable prices. On top of existing penalties,

22644-408: Was proven in 2006 that this phase, created by pressurizing O 2 to 20  GPa , is in fact a rhombohedral O 8 cluster . This cluster has the potential to be a much more powerful oxidizer than either O 2 or O 3 and may therefore be used in rocket fuel . A metallic phase was discovered in 1990 when solid oxygen is subjected to a pressure of above 96 GPa and it

22797-499: Was published in 1777. In the meantime, on August 1, 1774, an experiment conducted by the British clergyman Joseph Priestley focused sunlight on mercuric oxide contained in a glass tube, which liberated a gas he named "dephlogisticated air". He noted that candles burned brighter in the gas and that a mouse was more active and lived longer while breathing it. After breathing the gas himself, Priestley wrote: "The feeling of it to my lungs

22950-458: Was published in 1777. In that work, he proved that air is a mixture of two gases; 'vital air', which is essential to combustion and respiration, and azote (Gk. ἄζωτον "lifeless"), which did not support either. Azote later became nitrogen in English, although it has kept the earlier name in French and several other European languages. Lavoisier renamed 'vital air' to oxygène in 1777 from

23103-529: Was published in 2013, the Global Competitiveness Index suggests that Armenia ranks lowest among ECA (Europe and Central Asia) countries in the effectiveness of anti-monopoly policy and the intensity of competition. This low ranking somehow explains the low employment and low incomes in Armenia. A merger or acquisition involves, from a competition law perspective, the concentration of economic power in

23256-420: Was shown in 1998 that at very low temperatures, this phase becomes superconducting . Oxygen dissolves more readily in water than nitrogen, and in freshwater more readily than in seawater. Water in equilibrium with air contains approximately 1 molecule of dissolved O 2 for every 2 molecules of N 2 (1:2), compared with an atmospheric ratio of approximately 1:4. The solubility of oxygen in water

23409-412: Was witnessed during the recent (2009) financial turmoil " Competition law, or antitrust law, has three main elements: Substance and practice of competition law varies from jurisdiction to jurisdiction. Protecting the interests of consumers ( consumer welfare ) and ensuring that entrepreneurs have an opportunity to compete in the market economy are often treated as important objectives. Competition law

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