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The antitrust laws entitled the federal government to regulate monopolies that had a direct impact on commerce; Standard Oil Co. of New Jersey v. United States, 221 U.S. 1 (1911) Standard Oil was dismantled into geographical entities given its size, and that it was too much of a monopoly; United States v. American Tobacco Company, 221 U.S. 106 ...
American Tobacco Co. v. United States, 328 U.S. 781 (1946) after American Tobacco Co was broken up, the four entities were found to have achieved a collectively dominant position, which still amounted to monopolization of the market contrary to the Sherman Act §2; American Column & Lumber Co. v. United States, 257 US 377 (1921) information sharing
In 1913, following the electoral victory of the Democrats in 1912, there was a significant reduction in the average tariff on manufactured goods from 44% to 25%. However, the First World War rendered this bill ineffective, and new "emergency" tariff legislation was introduced in 1922, after the Republicans returned to power in 1921. [45]
Orthodox economists fully acknowledge that perfect competition is seldom observed in the real world, and so aim for what is called "workable competition". [ 66 ] [ 67 ] This follows the theory that if one cannot achieve the ideal, then go for the second best option [ 68 ] by using the law to tame market operation where it can.
11. Thurn and Taxis Mail. The private company operated postal service back in the 1800s and enjoyed a monopoly on postal services. The company's dominance came to an end after Prussian victory ...
From World War II until the 1970s, the Brandeisian view that high market concentration leads to anticompetitive behavior was sometimes called the Harvard School of thought because the view was primarily associated with Harvard University, including works by economists Edward Mason, Edward Chamberlain, and Joe Bain.
Robber baron is a term first applied as social criticism by 19th century muckrakers and others to certain wealthy, powerful, and unethical 19th-century American businessmen. The term appeared in that use as early as the August 1870 issue of The Atlantic Monthly [ 1 ] magazine.
The Bell System also owned various Caribbean regional operating companies, as well as 54% of Japan's NEC and a post-World War II reconstruction relationship with state-owned Nippon Telegraph and Telephone (NTT) before the 1956 boundaries were emplaced. Before 1956, the Bell System's reach was truly gargantuan.