These trust agreements would result in a monopoly. To combat this sort of business behavior, Congress passed antitrust legislation.
Clayton Antitrust Act
Major legislation in this realm includes the Sherman Act of the 1890s, the Clayton Act of 1914, and the Cellar-Kefauver Act of 1950. The Robinson-Patman Act prohibits manufacturers from discriminating against small retailers in favor of large chains.
The Clayton Antitrust Act of 1914 strengthened the Sherman Antitrust Act by explicitly outlining and prohibiting specific anti-competitive practices, such as price discrimination, exclusive dealing agreements, and mergers that substantially lessen competition. It aimed to close loopholes in the Sherman Act and provided clearer guidelines for businesses to promote fair competition. Additionally, the act established the Federal Trade Commission (FTC) to enforce antitrust laws and prevent unfair business practices.
The Sherman Antitrust Act was passed in 1890 to combat anti-competitive practices and monopolies that were emerging during the industrialization of the United States. Its primary aim was to promote fair competition and protect consumers by prohibiting agreements that restrain trade and efforts to establish monopolies. The Act marked a significant step in federal regulation of business practices and laid the groundwork for future antitrust legislation.
There are three major federal antitrust laws: The Sherman Antitrust Act, the Clayton Act and the Federal Trade Commission Act.
Sherman Antitrust Act of 1890
In the United States, the main purpose of antitrust legislation is to promote competition in business.
Sherman Antitrust Act.
The 1914 Clayton Antitrust Act Labor excluded unions and agricultural cooperatives from antitrust laws
Clayton Antitrust Act.
Clayton Antitrust Act
Weakened antitrust legislation
James H. Sneed has written: 'Antitrust' -- subject(s): Antitrust law, Law and legislation, Medical care
Sherman antitrust act
Sherman Antitrust Act
To restore competition between similar businesses.
John H. Shenefield has written: 'The antitrust laws' -- subject(s): Antitrust law 'Current merger enforcement' -- subject(s): Consolidation and merger of corporations, Law and legislation, Antitrust law