answersLogoWhite

0

The Sherman Antitrust Act (Sherman Act,[1]26 Stat. 209, 15 U.S.C. §§ 1-7) is a landmark federal statute in the history of United States antitrust law (or "competition law") passed by Congress in 1890. It prohibits certain business activities that federal government regulators deem to be anticompetitive, and requires the federal government to investigate and pursue trusts.

It has since, more broadly, been used to oppose the combination of entities that could potentially harm competition, such as monopolies or cartels.

According to its authors, it was not intended to impact market gains obtained by honest means, by benefiting the consumers more than the competitors. Senator George Hoar of Massachusetts, another author of the Sherman act, said the following:

User Avatar

Wiki User

10y ago

Still curious? Ask our experts.

Chat with our AI personalities

ProfessorProfessor
I will give you the most educated answer.
Chat with Professor
DevinDevin
I've poured enough drinks to know that people don't always want advice—they just want to talk.
Chat with Devin
JordanJordan
Looking for a career mentor? I've seen my fair share of shake-ups.
Chat with Jordan

Add your answer:

Earn +20 pts
Q: What was the first major law written to control monopolies?
Write your answer...
Submit
Still have questions?
magnify glass
imp