Archived from the original on 18 November
Passed at the height of what is known as the "Gilded Age" in American history, the legislation is an early example of capitalist "competition law" designed to ensure that the economic playing field remained competitive.
It is important to recognize what late nineteenth-century legislators understood trusts to represent. Today, it means a financial relationship in which one party gives another the right to hold property or assets for a third party, but in the 19th century, "trust" became an umbrella term for any sort of collusive or conspiratorial behavior that was seen to render competition unfair.
It especially targeted big corporations operating in multiple states, as Congress justified their radical new regulations on their constitutional right to regulate interstate commerce. Section 1 defines and bans specific means of anticompetitive conduct.
Section 2 addresses the end results that are by their nature anticompetitive. As such, Sections 1 and 2 act to prevent the violation of the spirit of the law while still remaining within its bounds.
Section 3 extends the guidelines and provisions in Section 1 to the District of Columbia and U. Sherman Antitrust Act Impact The legislation was passed at a time of extreme public hostility towards large corporations like Standard Oil and the American Railway Union which were seen to be unfairly monopolizing certain industries.
The Act received immediate public approval, but as the legislation's definition of concepts like trusts, monopolies and collusion were not clearly defined, few business entities were actually prosecuted under its measures.
However, the popular demand for the Act signaled an important shift in American regulatory strategy towards business and markets. After the nineteenth-century rise of big business, American lawmakers reacted with a drive to regulate business practices more strictly.
Measures like these had widespread popular support, but lawmakers were also motivated by a genuine desire to keep the American market economy broadly competitive in the face of changing business practices.Mar 19, · The Sherman Act, being directed specifically at Rockefeller's Standard Oil trust, can be seen as a precursor to the PUC's (Public Utility Commissions) established in the s in response to electrification and the corresponding profit leslutinsduphoenix.com: Resolved.
The Sherman Antitrust Act of (26 Stat.
, 15 U.S.C. §§ 1–7) is a United States antitrust law passed by Congress under the presidency of Benjamin Enacted by: the 51st United States Congress.
Sherman Antitrust Act for kids Benjamin Harrison was the 23rd American President who served in office from March 4, to March 4, One of the important events during his presidency was the Sherman Antitrust Act of Find a summary, definition and facts about the Sherman Antitrust Act for kids.
The Sherman Antitrust Act made it a crime to monopolize industry. Information about the Sherman Antitrust Act for kids, children, homework and schools. Which of the following properly assesses the significance of the passage of the Sherman Anti-Trust Act in ?
D. The law established a precedent that the national government could regulate the economy in the interest of the public good. Mar 19, · Best Answer: The Sherman Antitrust act gave the government the power to control monopolistic corporations in the event that those corporations were using their position of power unfairly.
The act made the government 'top dog' so to speak when it came to who had more power (a corporation or a government).Status: Resolved.