The Australian Competition And Consumer Commission

The Australian Competition and Consumer Commission regulates both competition and consumer protection. Is this institution effective in its role? Why or why not?
The Australian Competition and Consumer Commission (ACCC) is an institution that deals with disseminates competition and fair trade in the market to help benefit consumers, businesses and the community. Their primary responsibility is to ensure that individuals and businesses comply with Australian competition, fair-trading, and consumer protection laws - in particular the Competition and Consumer Act 2010 (https://www.accc.gov.au/about-us). This essay will argue if the ACCC is effective at its role in regulating competition and consumer protection. This paper with analyse the ACCC
At the national level, the Australian Competition and Consumer Commission (ACCC) conducted an ‘Inquiry into the Competitiveness of Retail Prices for Standard Groceries’ in 2008, finding that the grocery retail in Australia was ‘workably competitive’ (Richards, Lawrence, Loong and Burch. 2012). They have found that there a disconnection between submissions by the farmers and the findings of the ACCC, it leads us to reflect on supermarket power and the directing function of public institutions under market neoliberalism. There are a number of smaller industries in food retail, but the main supermarkets that are heavily involved in the retail sector are Coles, Woolworths and the wholesaler Metcash, they have shared market shares. A way to understand the food retail and the abuse of market power as well as the averseness of state intervention is to think about the political-economic context of market relations. Neoliberalism is now a leading principle in many nation states and global authority structure; it is assumed that the state should reduce the regulatory function in favour of market self-regulation. In Australia we have a strong competition law, that we ask whether it is more or less ‘neoliberal’ to have a stronger competition law. In all this the ACCC has undergone much criticism amongst the farmers and farmer peast
Some nations like the United States of America have used this law for a long period of time, but most other nation have only recently implemented such regulations. For example the Asia-Pacific region, Australia has had a national competition and consumer law since the 1970’s, which is now regulated by the Australian Competition and Consumer Commission (Schaper, M.T. 2009-2010). The framework for the Australia’s national competition is confined within the Competition & Consumer Act 2010. The competition law has impacted majorly on small businesses. It makes it a little bit harder to make a foothold in the market. Small businesses cannot be treated and do not deal like larger modern corporations because of this fact the ACCC have a number of instruments to take into account when it comes to the needs of small business sector.
The ACCC job is to protect Australian assets. It is as a means to promote economic growth in Australia by supporting local business big or small. The ACCC is an effective institution in a sense that it helps keeps stable jobs by regulating the Australian market through import and export as well as relations to neighboring countries by trying to promote goods and services in Australia and keep regulation