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 ?
The passage of the Sherman Antitrust Act of 1890 shifted antitrust from multiple state common law jurisdictions toward a national standard of fair trade applied to large and small traders alike.
The Sherman Antitrust Act of 1890 broadly prohibits contracts, combinations, and conspiracies in "restraint of trade" and makes it unlawful "to monopolize" any line of commerce.
It also seems that these corporations are or are on the verge of violating the Sherman Antitrust Act of 1890, enacted to prevent monopolies, keeping healthy competition alive to protect the consumers.
How this issue has been addressed since the passage of the Sherman Antitrust Act of 1890 has ebbed and flowed with evolving theories and empirical evidence about how markets function and the degree of acceptance in our society of free markets to determine the distributions of income and wealth.
The primary piece of regulatory legislation affecting price signaling is the Sherman Antitrust Act of 1890, which forbids "every contract, combination in the form of trust or otherwise, or conspiracy, in restraint of trade or commerce among the several States, or with foreign nations.
Theodore Roosevelt had ordered the Justice Department to act against the Standard Oil Company of New Jersey under the Sherman Antitrust Act of 1890, but it took more than four years for the case to reach the Supreme Court.
The Complaint alleges that Defendant's actions violated Section 1 of the Sherman Antitrust Act of 1890, 15 U.
Republican Senator John Sherman of Ohio, chief sponsor of the Sherman Antitrust Act of 1890, said the power of the trusts amounted to "a kingly prerogative, inconsistent with our form of government.