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American antitrust law formally began in 1890 with the U.S. Congress's passage of the Sherman Act, although a few U.S. states had passed local antitrust laws during the preceding year. [12] Using broad and general terms, the Sherman Act outlawed "monopoliz[ation]" and "every contract, combination ... or conspiracy in restraint of trade". [13]
Standard Oil (Refinery No. 1 in Cleveland, Ohio, pictured) was a major company broken up under United States antitrust laws.. The history of United States antitrust law is generally taken to begin with the Sherman Antitrust Act 1890, although some form of policy to regulate competition in the market economy has existed throughout the common law's history.
Source: Chauncey M. Depew (ed.), One Hundred Years of American Commerce 1795–1895 p. 111 1864, Pennsylvania oil drilling early in the history of the petroleum industry in the United States Railroad executives invented modern methods for running large-scale business operations, creating a blueprint that all large corporations basically followed.
Click to skip ahead and jump to the 5 Most Famous Monopolies of All Time. ... Pan Am was in existence from 1927 to 1991 as the largest American airline, and is said to have been a monopoly in the ...
In 1916, two-thirds of all American freight was carried on 254,000 miles of railroad tracks. The gateway between east and west ... about $68 billion of Monopoly money is printed each year, but the ...
Income inequality has fluctuated considerably in the United States since measurements began around 1915, moving in an arc between peaks in the 1920s and 2000s, with a 30-year period of relatively lower inequality between 1950 and 1980. The U.S. has the highest level of income inequality among its (post-)industrialized peers. [1]
As is too often the case, it seems like the only monopolies that earn government approval are the ones it helps create. The post With U.S. Steel Decision, Biden Turned His Back on Opposing ...
American Colossus narrates United States history in the thirty-five years following the American Civil War. [14] The book highlights the ascent of businessmen like Cornelius Vanderbilt, J. P. Morgan, John D. Rockefeller, and Andrew Carnegie, [5] interpreting the time period through the lens of the "triumph of capitalism". [1]