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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.
The Sherman Antitrust Act of 1890 [1] (26 Stat. 209, 15 U.S.C. §§ 1–7) is a United States antitrust law which prescribes the rule of free competition among those engaged in commerce and consequently prohibits unfair monopolies. It was passed by Congress and is named for Senator John Sherman, its principal author.
The Journal of Law and Economics. 39 (1): 1– 48. doi:10.1086/467342. JSTOR 725768. Letwin, William (1965). Law and Economic Policy in America: The Evolution of the Sherman Antitrust Act. New York: Random House. May, James (1989). "Antitrust in the Formative Era: Political and Economic Theory in Constitutional and Antitrust Analysis, 1888–1918".
In the United States, antitrust law is a collection of mostly federal laws that govern the conduct and organization of businesses in order to promote economic competition and prevent unjustified monopolies. The three main U.S. antitrust statutes are the Sherman Act of 1890, the Clayton Act of 1914, and the Federal Trade Commission Act of 1914 ...
The history of competition law refers to attempts by governments to regulate competitive markets for goods and services, leading up to the modern competition or antitrust laws around the world today. The earliest records traces back to the efforts of Roman legislators to control price fluctuations and unfair trade practices.
As antitrust law continued to tighten, companies integrated through mergers fully. Clayton Act of 1914; William Peters Hepburn proposed a Hepburn Bill of 1908 which would have required federal incorporation. This was attacked from various groups who wished to maintain the state system of incorporation.
Signed into law by President Woodrow Wilson on September 26, 1914 The Federal Trade Commission Act of 1914 is a United States federal law which established the Federal Trade Commission . The Act was signed into law by US President Woodrow Wilson in 1914 and outlaws unfair methods of competition and unfair acts or practices that affect commerce.
That led the AFL to initiate an aggressive campaign to convince Congress to address labor concerns about the Sherman Act in the reform of antitrust laws. [5] The push culminated with the passage of the Clayton Antitrust Act of 1914, which provided that "the labor of a human being is not a commodity or an article of commerce." Section 20 of the ...