Competition laws and policy, which integrate political, economical, legal, and even social aspects of a society, constitute a challenging dimension in the field of in- dustrial organization. The article, first, defines the term competition and questions whether there is a tenable economic case for competition policy or not. Second, the three main economic paradigms which are still holding the agenda, in the field of in- dustrial organization, and their function as policy alternatives in European Union and United States are discussed. Third, four main propositions for the purpose, scope and implementation of competition policy are presented. Fourth, the case of Turkey is considered with reference to the changing trends in the world and the customs un- ion with European Union. Finally, the article highlights some main issues which should be taken into account during the process of creating a sound competition policy in Turkey. 

Competition laws and policy, which integrate political, economical, legal, and even social aspects of a society, constitute a challenging dimension in the field of in- dustrial organization. The article, first, defines the term competition and questions whether there is a tenable economic case for competition policy or not. Second, the three main economic paradigms which are still holding the agenda, in the field of in- dustrial organization, and their function as policy alternatives in European Union and United States are discussed. Third, four main propositions for the purpose, scope and implementation of competition policy are presented. Fourth, the case of Turkey is considered with reference to the changing trends in the world and the customs un- ion with European Union. Finally, the article highlights some main issues which should be taken into account during the process of creating a sound competition policy in Turkey.