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This paper first discusses the US Sherman Anti-Trust Act and the Clayton Act and how they helped eliminate some monopolies and price preferences. The paper then looks at several anti trust cases where the government attempted, sometimes successfully, to prosecute firms they considered in violation of the anti-trust acts. The paper also outlines the cases involving Standard Oil, Microsoft and Visa and Mastercard. Lastly, the paper considers whether the consumer really benefits from anti-trust legislation and whether there are some large scale enterprises which deserve monopoly status.
From the Paper:"These two major righting of corporate wrongs in American business helped eliminate some monopolies (railroads) and price preferences (steel, railroads, oil). Some railroad tycoons had been notorious for offering special price deals for freight of industries as long as they gave all their freight business to their railroads. Sometimes a group of companies would get together in order to control commerce. These were called "trusts" and therefore legislation to curb excessive practices became known. The political figure who spearheaded this anti-trust drive was Theodore Roosevelt. In fact, he became known as the "trust buster." As we have already seen, the Sherman Act was only the beginning. Even before Clayton was enacted, "in 1902 President Roosevelt decided to challenge...the holding company...thereby stopping a process of elimination (of competition" (orison 1965 820). In particular, this legislation (approved by the Supreme Court eventually) was focused on one man, Harriman, controlling four of the six transcontinental railways."
Sample of Sources Used:
- Bendavid, N. "Justice Department Sues Microsoft Charging It With Being Anti-Competitive" Chicago Tribune, May 18, 1998
- DeLong, J. V.: "The New Trustbusters" Reason, March 1999
- Department of Justice: "ANTITRUST DIVISION MANUAL- Chapter Two" Department of Justice Anti-Trust Division www.usdoj.gov/atr/foia/divisionmanual/two.htm
- Hanchette, J. "Another Big Antitrust Suit Rolling: Feds Against Mastercard and Visa" Gannett News Service, June 17, 2000
- Kopel,. D.. and Bast, J. "Antitrust's greatest hits" Reason, Nov. 2001, pp 28-35
Cite this Analytical Essay:
Anti-Trust Law (2010, January 10) Retrieved May 16, 2021, from https://www.academon.com/analytical-essay/anti-trust-law-118185/
"Anti-Trust Law" 10 January 2010. Web. 16 May. 2021. <https://www.academon.com/analytical-essay/anti-trust-law-118185/>