The comparative capitalism literature examined how institutions vary on a national or societal level and how these differences affect multinational companies’ strategies. Yet, little attention has been devoted to cross-national or regional differences in the governance of competition, especially in the context of digitalization of markets. The article seeks to fill this gap by looking at the case of Google. It traces the process of the stark US–EU disagreement over Google’s abuse of dominant position in digital markets, which resulted in one of the largest fines in the EU history. It is argued that the variation in the response to the company’s market and nonmarket strategies are traced back to differences between Ordoliberal and Chicago School ideas, which are embedded in the ‘competition regimes’ of European and US capitalist models. The article concludes by discussing the implications of these findings for varieties of capitalism frameworks.

比较资本主义文献研究了制度在国家或社会层面上如何变化以及这些差异如何影响跨国公司的战略。然而，在竞争治理方面，尤其是在市场数字化的背景下，很少有注意力放在跨国或地区差异上。本文旨在通过研究Google案例来填补这一空白。它追溯了美国与欧盟就谷歌滥用数字市场支配地位而形成的鲜明分歧的过程，这导致了欧盟历史上最大的罚款之一。有人认为，对公司市场和非市场策略的反应有所不同，可以追溯到Ordoliberal和芝加哥学派的思想之间的差异，这些思想嵌入在欧洲和美国资本主义模式的“竞争机制”中。