Sherman Antitrust Act

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Related to Sherman Anti-Trust Act: Clayton Act, Clayton Antitrust Act

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 ?
In 1912 Morawetz was called for two days of testimony before the Senate Committee on Interstate Commerce for what proved to be a lengthy dialogue with senators who relied upon Morawetz--and other noted experts--to help them think through how the Sherman Anti-Trust Act might be amended or superseded with new legislation.
In about 1937, the courts struck down such laws as being in violation of the Sherman Anti-Trust Act. A sympathetic Congress quickly passed the "Miller-Tydings Act," which exempted state fair trade laws--much like the McCarran-Ferguson Act exempted insurance.
That action violated the federal Sherman Anti-Trust Act. The conspiracy unlawfully fixed the prices that Dell, HP, Compaq, IBM, Apple and Gateway paid for DRAM, the lawsuit said.
Since the passage of the Sherman Anti-Trust Act, jurists have successfully argued that regulation includes prohibition, see Champion v.
Finally, a number of very important issues, such as the author's discussion of state inquiries into large corporations that helped set the precedent for the 1890 Sherman Anti-Trust Act, should have been expanded (106).