Sherman Antitrust Act

(redirected from Sherman Antitrust Act of 1890)
Also found in: Encyclopedia.

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.

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.

Sherman Antitrust Act

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

References in periodicals archive ?
15, 1914, the Clayton Antitrust Act, which expanded on the Sherman Antitrust Act of 1890, was signed into law by President Woodrow Wilson.
The Sherman Antitrust Act of 1890 authorized the federal government to break up abusive monopolies, a mission of President Teddy Roosevelt (1904-09).
Congress enacted the Sherman Antitrust Act of 1890 to limit certain anticompetitive actions such as monopolies and trusts that restrict trade.
Supreme Court's "literalist" interpretation of the Sherman Antitrust Act of 1890.
In retrospect, the breakthrough legislation - not just for the US, but also internationally - was the Sherman Antitrust Act of 1890.