Sherman Antitrust Act

(redirected from The Sherman Act)
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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.

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 ?
In particular, it draws on two distinctive background facets of the FTC's legislative history to show that, unlike the Sherman Act of 1890, the FTC Act of 1914 evidences a congressional concern with anticompetitive state regulation.
Section 1 of the Sherman Act prohibits agreements in restraint of trade.
To give more meaning to the Sherman Act, the Clayton Act was subsequently enacted.
97 (1980), by contrast, California merely enforced resale minimum prices established by industry participants, and the program was found to violate the Sherman Act. Courts will likely continue to be concerned whenever there is a risk of industry members harnessing the machinery of the state to limit competition and restrain trade in the market in which they participate.
(12) Authorities charged AUO, AUOA, Hui Hsiung, and AUO's CEO, Hsuan Bin Chen with conspiracy to fix prices for TFT-LCDs in violation of the Sherman Act. (13) The indictment also alleged that AUO and AUOA derived profits of approximately USD500,000,000 from these sales.
A conspiracy to restrain trade is actionable under Section 1 of the Sherman Act. (37) While mere conscious parallelism may be a factor for a court to find a conspiracy violation under Section 1 of the Sherman Act, alone, it may not satisfy a violation.
The Sherman Act, enacted in 1890, was designed to protect and promote economic competition.
THE SHERMAN ACT AS AN EXPRESSION OF THE COURT'S COMMERCE
Oligopolies have always posed problems for conventional antitrust law: without something that can be called an agreement, they elude scrutiny under section 1 of the Sherman Act, 15 U.S.C.
In over a century since its enactment, the words that comprise the Sherman Act have remained relatively unchanged.
(Adoption of Chicago School interpretations of consumer welfare and policy positions on particular competitive practices would occur neither immediately nor completely.) In 1979, citing Bork, the Court declared that "Congress designed the Sherman Act as a 'consumer welfare prescription.'" Over time, the maxim that antitrust law should protect "competition rather than competitors" became canonical.
We adopt two assumptions throughout this Feature: first, the firms in a concentrated product or service market are not fixing prices in a way that would subject them to liability under Section 1 of the Sherman Act; second, the managers of the funds that acquire interests in their shares are not agreeing with each other about how to purchase or vote the shares or otherwise influence the behavior of these firms.