Sherman Antitrust Act

(redirected from Sherman Act of 1890)
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Sherman Antitrust Act

The first legislation passed in the United States limiting trusts and monopolies. The Act prohibits agreements and collusion restricting trade, without providing many specifics. The Act was largely unenforced against the organizations it was intended to curtail. Indeed, the Act was invoked early on to restrict organized labor more than any other group. As a result, Congress passed the Clayton Act in 1914 to clarify American antitrust law. The Sherman Act has been criticized by many, notably Ayn Rand and her followers, for unfairly and inefficiently restricting the Invisible Hand of the market.
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Sherman Antitrust Act

An 1890 federal antitrust law intended to control or prohibit monopolies by forbidding certain practices that restrain competition. In the early 1900s, the U.S. Supreme Court ruled that the Act applied only to unreasonable restraints of trade and thus could be used only against blatant cases of monopoly.
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Sherman Antitrust Act

One of the antitrust laws designed to encourage competition and discourage monopolies.

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References in periodicals archive ?
The antitrust laws are a patchwork of state and federal statutes and decisions centered around the Sherman Act of 1890, as amended by the Clayton Act,[3] the Robinson-Patman Act,[4] and other laws.
The fear of monopoly that triggered the first of the big antitrust statutes - the Sherman Act of 1890, which outlawed combinations in restraint of trade and attempts to monopolize - was far from unfounded.
The only problem is that such an agreement among competitors is price fixing, a "per se" violation of the Sherman Act of 1890. The Milk Board and Beef Council, among other groups, have obtained congressional exemptions and can therefore legally undertake such advertising programs.
The Sherman Act of 1890 and the Clayton Act of 1914 are evidence of a national commitment to a policy of preventing monopoly and fostering competition.
The Meat Inspection Act of 1891 and the Sherman Act of 1890 are closely tied.
A recently completed study by Libecap on the origins of federal meat inspection and antitrust provides an example of the type of research being encouraged.(15) Libecap finds a surprising link between the country's first law for federal inspection of food quality, the Meat Inspection Act of 1891, and the first federal antitrust law, the Sherman Act of 1890. Much of the political pressure for antitrust legislation and meat inspection came from small meat packers and farmers, not from consumer groups.