Category: Article
Competition Policy and Inequality
Each year on December 5, World Competition Day is celebrated to emphasize the importance of competition policy in fostering competitive and efficient markets. This year’s theme, “Competition Policy and Inequality,” highlights the relationship between market dynamics and economic disparities, and how competition policy can help mitigate such inequalities. Understanding Economic Inequality Economic inequality refers to […]
Read MoreCompetition and Competition Policy Aiding the Economy
Introduction Competition is a fundamental element of any healthy economy. It motivates businesses to improve, innovate, and offer better products and services to consumers. Governments worldwide, including Jamaica, recognize the need to foster and protect competitive markets as a means of fostering long-term economic growth. Competition policies, designed to promote a competitive environment, play a […]
Read MoreUnderstanding Shrinkflation: A Covert form of Inflation
In today’s complex economic landscape, price alone is no longer the sole indicator of product value or market stability. Consumers often focus on price changes when making purchasing decisions however, it is important to consider other factors that may subtly affect the real cost and value of goods and services. One such factor is shrinkflation, […]
Read MoreCompetition Law Benefits Small Businesses
The winner of the 1976 Nobel Memorial Prize in Economics, Professor Milton Friedman, described competition as a system of dispersed power that promotes economic efficiency and innovation. A competition-based economy, therefore, is most likely to secure the greatest economic surplus for society. Competition legislation such as Jamaica’s Fair Competition Act (FCA), promotes competition as the […]
Read MoreRegulating Ride-Sharing Services to Promote Sustainable Development
Transportation plays a crucial role in any modern society. While transportation is sometimes valued by consumers (‘passengers’) as a standalone service, in most cases passengers value transportation as an intermediate service that allows them to consume other goods and services accessible at distinct physical locations. Passengers may choose to either provide ground transportation themselves or […]
Read MoreThe FTC Recognizes World MSME Day
June 27 is observed as World MSME Day, recognizing the critical role played by Micro, Small, and Medium-sized Enterprises (MSMEs) in promoting the United Nations’ Sustainable Development Goals. The enterprises which operate in this sector are diverse, spanning various sectors such as agriculture, manufacturing, retail, and services, and providing goods and services that cater to […]
Read MoreUnveiling an Anti-Competitive Practice: Advocating Against Double Ticketing
In the world of commerce, trust between businesses and consumers is paramount. Yet, there exists a pricing strategy that undermines this trust, leaving consumers feeling deceived and cheated. This practice, known as double ticketing, is used by some retailers to sell products at a higher price by muting the consumer’s natural tendencies to switch away […]
Read MoreLand Surveyor and Pricing Presentations
The FTC presented at the 4th annual seminar “A Matter of Land”, for Land Surveyors, trainees, and student surveyors. It was a two-part presentation: the first presentation was on the FTC’s March 2022 Report – “Competition Assessment of the Land Surveyors Act”; and the other was entitled “Pricing among Land Surveyors – A Competition Assessment”. […]
Read MoreCCC 15th Anniversary activities – Final Episode of “CCC Conversations” Video Series Featuring Interview with Mr. David Miller, Jamaica Fair Trading Commission
Paramaribo, 22 December 2023 – To conclude the activities marking its 15th anniversary, the CARICOM Competition Commission (Commission) announces the release of the final episode of its video series, ‘CCC Conversations’. This last episode features an insightful interview with Mr. David Miller, the Executive Director of the Jamaica Fair Trading Commission since November 2008. In […]
Read MoreThe Economics of Prioritizing Socially Sensitive Sectors in Competitive Markets
Prioritizing socially sensitive sectors within competitive markets represents a complex scenario shaped by finding a delicate balance between market dynamics and societal necessities. In the current economic landscape of Jamaica, to balance the market dynamics and societal welfare in socially sensitive sectors pose as a principal challenge. These sectors, such as healthcare, education, environmental preservation, […]
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