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imprisonment not exceeding three years and a fine not exceeding $10,000,000
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What is Cornelius Vanderbilt's attitude about the Sherman anti-trust act?
Cornelius Vanderbilt did not directly comment on the Sherman Antitrust Act, as he died in 1877, three years before the law was enacted in 1890. However, his business practices, particularly in the railroad and shipping industries, were characterized by aggressive competition and consolidation, which later led to scrutiny under antitrust laws. Given his focus on maximizing profits and expanding his business empire, it is likely that he would have viewed the Sherman Act as a challenge to his business strategies.
What is the purpose of the Sherman Antitrust act?
Federal legislation passed in 1890 prohibiting "monopolies or attempts to monopolize" and "contracts, combinations, or conspiracies in restraint of trade" in interstate and foreign commerce. The major purpose of the Sherman Antitrust Act was to prohibit monopolies and sustain competition so as to protect companies from each other and to protect consumers from unfair business practices. The act was supplemented by the clayton antitrust act in 1914. Both acts are enforced by the Federal Trade Commission (FTC) and the Antitrust Division of the U.S. Attorney General's office. (source: answers.com)
How was the Sherman Antitrust Act used against unions?
The Sherman Antitrust Act was suppose to deal with large trust that held monopolies from various sections. The problem with the Sherman Antitrust Act was that it had actually used to attack unions. Unions fought the monopolies in order to gain more rights for the workers such as better living conditions, higher wages, 8 hour shifts, etc. The Sherman Act outlawed practices that are believed to be harmful to the consumers. Union strikes against railroads, coal, and other industries were stomped on because of this act. The monopolies convinced the American Government that the strikes imposed by the unions were "harmful" to the consumers. Therefore the Sherman Act was a double-edged sword that made the monopolies think more before they act (still the act didn't do that much) and it was used to bring down the unions that fought against the monopolies. The monopolies would be able to weaken unions; thus allowing them to reduce working conditions that allowed them to increase their profits.
Why was antitrust legislation introduced?
These trust agreements would result in a monopoly. To combat this sort of business behavior, Congress passed antitrust legislation.
Would you rather be given retribution or a contribution?
Contribution, retribution is a punishment.
What punishment would a violator of the Sherman antitrust act?
imprisonment not exceeding three years and a fine not exceeding $10,000,000
What punishment would a violator of the sherman antitrust act face?
imprisonment not exceeding three years and a fine not exceeding $10,000,000
What punishment Would a violator the Sherman antitrust act Face?
imprisonment not exceeding three years and a fine not exceeding $10,000,000
What punishment would violator of Sherman antitrust act face?
imprisonment not exceeding three years and a fine not exceeding $10,000,000
What was forbidden by the Sherman Antitrust Act?
It forbade mergers of companies that would result in restraint of trade.
What punishment would violator of the Sherman antitrust act face?
imprisonment not exceeding three years and a fine not exceeding $10,000,000
What is Cornelius Vanderbilt's attitude about the Sherman anti-trust act?
Cornelius Vanderbilt did not directly comment on the Sherman Antitrust Act, as he died in 1877, three years before the law was enacted in 1890. However, his business practices, particularly in the railroad and shipping industries, were characterized by aggressive competition and consolidation, which later led to scrutiny under antitrust laws. Given his focus on maximizing profits and expanding his business empire, it is likely that he would have viewed the Sherman Act as a challenge to his business strategies.
What is the purpose of the Sherman Antitrust act?
Federal legislation passed in 1890 prohibiting "monopolies or attempts to monopolize" and "contracts, combinations, or conspiracies in restraint of trade" in interstate and foreign commerce. The major purpose of the Sherman Antitrust Act was to prohibit monopolies and sustain competition so as to protect companies from each other and to protect consumers from unfair business practices. The act was supplemented by the clayton antitrust act in 1914. Both acts are enforced by the Federal Trade Commission (FTC) and the Antitrust Division of the U.S. Attorney General's office. (source: answers.com)
What strengthened federal laws against monopolies?
One of the key legislations that strengthened federal laws against monopolies was the Sherman Antitrust Act of 1890. This act aimed to prevent the formation of monopolies or cartels that could restrain trade and limit competition. It prohibited any agreements or actions that would result in the restraint of trade or the monopolization of an industry.
How was the Sherman Antitrust Act used against unions?
The Sherman Antitrust Act was suppose to deal with large trust that held monopolies from various sections. The problem with the Sherman Antitrust Act was that it had actually used to attack unions. Unions fought the monopolies in order to gain more rights for the workers such as better living conditions, higher wages, 8 hour shifts, etc. The Sherman Act outlawed practices that are believed to be harmful to the consumers. Union strikes against railroads, coal, and other industries were stomped on because of this act. The monopolies convinced the American Government that the strikes imposed by the unions were "harmful" to the consumers. Therefore the Sherman Act was a double-edged sword that made the monopolies think more before they act (still the act didn't do that much) and it was used to bring down the unions that fought against the monopolies. The monopolies would be able to weaken unions; thus allowing them to reduce working conditions that allowed them to increase their profits.
Why was antitrust legislation introduced?
These trust agreements would result in a monopoly. To combat this sort of business behavior, Congress passed antitrust legislation.
Which government policy would this cartoonist most likely support?
adopting antitrust laws
