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The Sherman Antitrust Act of 1890 [1] (26 Stat. 209, 15 U.S.C. §§ 1–7) is a United States antitrust law which prescribes the rule of free competition among those engaged in commerce and consequently prohibits unfair monopolies.
Sherman was the principal author of the Sherman Antitrust Act, which was signed into law by President Benjamin Harrison in 1890. In 1897, President William McKinley appointed him Secretary of State. Failing health and declining faculties made him unable to handle the burdens of the job, and he retired in 1898 at the start of the Spanish ...
Standard Oil (Refinery No. 1 in Cleveland, Ohio, pictured) was a major company broken up under United States antitrust laws.. The history of United States antitrust law is generally taken to begin with the Sherman Antitrust Act 1890, although some form of policy to regulate competition in the market economy has existed throughout the common law's history.
Having passed major legislation lowering the tariff and reforming the banking structure, Wilson next sought antitrust legislation to enhance the Sherman Antitrust Act of 1890. [136] The Sherman Antitrust Act barred any "contract, combination ... or conspiracy, in restraint of trade", but had proved ineffective in preventing the rise of large ...
American antitrust law formally began in 1890 with the U.S. Congress's passage of the Sherman Act, although a few U.S. states had passed local antitrust laws during the preceding year. [13] Using broad and general terms, the Sherman Act outlawed "monopoliz[ation]" and "every contract, combination ... or conspiracy in restraint of trade". [14]
Members of both parties were concerned with the growth of the power of trusts and monopolies, and one of the first acts of the 51st Congress was to pass the Sherman Antitrust Act, sponsored by Senator John Sherman. The Act passed by wide margins in both houses, and Harrison signed it into law. [129] The Sherman Act was the first federal act of ...
President Donald Trump made one of the best and most consequential decisions of his second term: tapping technology lawyer Gail Slater to lead the Antitrust Division of his Justice Department ...
Next on the agenda was antitrust legislation to supplant the Sherman Antitrust Act of 1890. [56] The Sherman Antitrust Act had barred any "contract, combination...or conspiracy, in restraint of trade," but had proved ineffective in preventing the rise of large business combinations known as trusts. Roosevelt and Taft had both escalated ...