The expansion of the railroads from 1860 to 1880 required the consolidation of railroads to pay the loans. In 1890, the US began to pass anti-monopoly laws.
In the United States, antitrust laws, also known as competition laws, are designed to promote competition and prevent monopolies. The primary federal statutes are the Sherman Act, the Clayton Act, and the Federal Trade Commission Act. These laws aim to prevent businesses from engaging in anti-competitive practices that could harm consumers or restrain trade.
Key
Aspects of U.S. Antitrust Laws:
This
is the foundational antitrust law. It prohibits contracts, combinations,
or conspiracies that restrain trade, as well as monopolization. It also
makes it illegal for companies to monopolize, attempt to monopolize, or
conspire to monopolize any part of interstate trade.
This
act builds upon the Sherman Act and addresses specific issues like mergers and
acquisitions that could stifle competition. It also prohibits certain
anticompetitive practices, including tying arrangements, exclusive dealing
contracts, and interlocking directorates.
The Federal Trade Commission Act (1914):
This
act established the Federal Trade Commission (FTC), an agency with the
authority to investigate and stop unfair methods of competition and deceptive
practices.
Key
Areas Covered by Antitrust Laws:
Agreements
between competitors to set prices, which is a per se violation under the
Sherman Act.
Agreements
between competitors to divide markets or territories, also a per se
violation.
Agreements
between competitors to fix prices or terms when bidding on contracts, which is
also a per se violation.
The
Clayton Act and other laws regulate mergers and acquisitions to prevent them
from substantially lessening competition or creating monopolies.
The
Sherman Act prohibits monopolization, attempted monopolization, and
conspiracies to monopolize.
The Federal Trade Commission Act empowers the FTC to address unfair or deceptive business practices.
Enforcement: The Department of Justice (DOJ) and the Federal Trade Commission (FTC) are the primary agencies responsible for enforcing antitrust laws. The DOJ can prosecute violations criminally, while the FTC primarily focuses on civil enforcement. Individuals and businesses injured by antitrust violations can also sue for treble damages (three times the actual damages).
https://www.google.com/search?q=us+anti+monopoly+laws
Comments
The unbridled beginnings of the Deep State started in 1890. The Marxist view of economies relied on a division between Labor and Management. Adherence to property rights in the US Constitution began to slip away. In 1913, the US abandoned Tariffs and established a permanent and punishing Income Tax based on a Fabian Socialist Government Managed Economy. We are currently in the struggle to return to Free Market Economics where prices are based on Supply and Demand.
Norb Leahy, Dunwoody GA Tea Party Leader
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