The Pros And Cons Of Antitrust Laws

The Federalists called this act as unconstitutional on the basis that the Congress may “regulate trade with foreign nations, and among the several states…” To regulate trade implies that some trade is allowed. Congress completely banned trade with foreign nations so the Embargo Act of 1807 was clearly unconstitutional. Daniel Webster, a Federalist, said in a speech,

In 1887, Congress passed the Interstate Commerce Act, making railroads the first industry subject to Federal regulation. This law was passed by the Congress largely in response to the public demand that railroad operations be regulated. A five-member enforcement board knowns as the Interstate Commerce Commission was also established by the act.

When Woodrow Wilson was inaugurated in 1913, he stated in his address that, “We shall deal with our economic system as it is and as it may be modified, not as it might be if we had a clean sheet of paper to write upon” (First Inaugural Address, online). He did just that when he passed the Clayton Antitrust Act in October 1914. The Sherman Antitrust Act was passed in 1890, but it was very vague in the way it described monopolies (Clayton Antitrust Act, online). Big business took advantage of the loopholes, which diminished competition (Clayton Antitrust Act, online). Although Roosevelt and Taft successfully busted about 150 trusts, big businesses continued to grow and our entire economic system remained in the hands of a few men (Taft Biography, online; T. Roosevelt – Section 8, online; Clayton Antitrust, online). Wilson requested Congress to modify the Sherman Antitrust Act, and the Clayton Antitrust Act was born (Clayton Antitrust, online). It is “An Act To supplement existing laws against unlawful restraints and monopolies, and for other purposes” (HR 15657, online). The Sherman Act simply declared monopolies illegal, while the Clayton Act declared activities linked with monopolies to be illegal (Clayton Antitrust Act, online). Such activities include mergers and acquisitions that are intended “substantially to lessen competition, or to tend to create a monopoly” (HR 15657, online). The Federal Trade Commission Act, passed about a month before the Clayton Act, banned

United States antitrust law is a collection of federal and state government laws, which regulates the conduct and organization of business corporations, generally to promote fair competition for the benefit of consumers. The four major pieces of legislation known as the Antitrust Laws include: The Sherman Act, The Clayton Antitrust Act, The Federal Trade Commission, and the Celler-Kefauver Act.

A) There were 4 particular Antitrust Laws that were enacted with the primary purpose of protecting consumers, striving to achieve fair competition in the market place, and to achieve and allocate efficiency. The 4 Antitrust Laws that are major pieces of legislation are;

Antitrust laws are federal and state government laws that regulate the conduct and organization or businesses. This helps promote fair competition for consumers. There are four main areas involving the

The antitrust laws are the basis of this national policy. These laws, enforced by both the federal and state governments, require companies to compete in the marketplace. The Sherman Act, the first federal "antitrust law," was enacted in 1890, at a time when there was enormous concern about "trusts" -- combinations of companies that were able to control entire industries. Since then, other laws have been enacted to supplement the Sherman Act, including the Federal Trade Commission Act and the Clayton Act (1914). With some revisions, these laws still are in effect today. They have the same basic objective: making sure there are strong economic incentives for businesses to operate efficiently, keep prices down, and keep quality up.

United States antitrust law is a collection of federal and state government laws, which regulates the conduct and organization of business corporations, generally to promote fair competition for the benefit of consumers. The main statute was the Sherman act of 1890, it is the basis for U.S. antitrust law, and many states have modeled their own statutes upon it. As weaknesses in the Sherman Act became evident, Congress added amendments to it at various times through 1950 the Clayton act of 1914,

Sherman Anti-Trust Act-It was used to ban trusts in business. However, it was used to turn against labor combinations instead of stopping big business owners.

Antitrust crimes involve unfair marketing techniques and conduct designed to eliminate competition through unfair means. True

Events that led to the creation of the FTC. July 2, 1890, the Sherman Anti-Trust Act was the first law passed by congress to prevent monopolistic business practices. Named after Senator John Sherman of Ohio, he had this law to pass the senate with a unanimous vote of 51-1 and the House with a vote of 242-0. President Harrison signed it into law in 1890. The Sherman Anti-Trust Act authorized government to make it illegal to make a “restraint of trade or commerce among the several states or with foreign nations”. Those that did not abide by this law resulted in a $5,000 fine and a year in prison. “The Sherman Act was designed to reestablish competition but was loosely worded and unsuccessful to define terms as “trust,” “combination,” “conspiracy,” and “monopoly” (www.ourdocuments.gov, 2013)”. Because of this “loosely worded” act, the Supreme Court prevented the federal government from using the act for many years up until President Theodore Roosevelt came along with his “trust-busting” campaigns. In 1904 the Supreme Court finally supported the government in its suit for “termination of the Northern Securities Company and the act was further employed by President Taft in 1911 against the

Antitrust law in the United States is a collection of federal and state government laws regulating the conduct and organization of business corporations with the intent to promote fair competition in an open-market economy for the benefit of the public. Congress passed the first antitrust statute, the Sherman Antitrust Act, in 1890 in response to the public outrage toward big business. In 1914, Congress passed two additional antitrust laws: the Federal Trade Commission Act and the Clayton Act. (The Antitrust Laws. Web.)

The Sherman Antitrust Act was enacted on July 2nd, 1890 which prohibits activities that restrict interstate commerce and competition in the marketplace.

With the support of President Benjamin Harrison, Congress passed the Sherman Antitrust Act in 1890. John Sherman, a lawyer and senator from Ohio, was the author of this legislation that attempted to curb the growth of monopolies. The act declared illegal any business combination that sought to restrain trade or commerce. Penalties for violation of the act included a $5,000 fine or/and a year's imprisonment. The act was unable to achieve its original objectives.

Section 1 of the Sherman Antitrust Act, in part, states that “every contract, combination… or conspiracy, in the restraint of trade or commerce… is declared to be illegal.” (Sherman Act, 2006). This law provides “a comprehensive charter of economic liberty aimed at preserving free and unfettered competition as the rule of trade (Northern Pacific Railway Company vs. United States, 1958; Reiter vs. Sonotone Corporation, 1979). It relies on a fundamental belief in supply and demand (Baum Research & Development Company vs. Hillerich & Bradsby, 1998).