Search results
Results from the WOW.Com Content Network
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.
Ohio was hit very hard by the Great Depression in the 1930s. In 1932, unemployment for the state reached 37.3%. By 1933, 40% of factory workers and 67% of construction labor were unemployed. [119] The voters supported Franklin D. Roosevelt in 1932, 1936, and 1940, with large margins in the cities.
A trade war therefore does not cause a recession. Furthermore, he notes that the Smoot–Hawley tariff did not cause the Great Depression. The decline in trade between 1929 and 1933 "was almost entirely a consequence of the Depression, not a cause. Trade barriers were a response to the Depression, in part a consequence of deflation." [97]
The Panic of 1910–11 was a minor economic depression that followed the enforcement of the Sherman Antitrust Act, which regulates the competition among enterprises, trying to avoid monopolies and, generally speaking, a failure of the market itself. [1]
Due to the downturned economy, jobs were scarce and Black men were a huge target of the lay-offs, making up a large population of the unemployed during the Depression. Black folks were also still unable to vote at this time in the Jim Crow south, meaning Black families were facing immense compounding pressures.
The depression was marked by a strained economy in which patents were perceived as a method of promoting monopolies. This negative attitude towards patents led to the inception of the Sherman Antitrust Act. During the depression, many opposed patents, and this is depicted in the tendency of courts to invalidate patents.
For premium support please call: 800-290-4726 more ways to reach us
Representative John E. Rankin [4] and Senator George William Norris [5] were supporters of the Rural Electrification Act, which was signed into law by Roosevelt on May 20, 1936. Speaker of the House Sam Rayburn was a major proponent of the REA, which he helped pass in 1936 as Chairman of the House Interstate and Foreign Commerce Committee .