What was the Sherman Antitrust Act in response to?

The Sherman Antitrust Act was passed in response to the widespread concern of the public to stop big corporations from dominating commerce in the United States. The act was passed to aid the greater good and success of the American people as a whole, versus the unyielding success of a few.

Why was Sherman Antitrust Act passed?

The Sherman Antitrust Act is a law passed by the U.S. Congress to prohibit trusts, monopolies, and cartels. Its purpose was to promote economic fairness and competitiveness and to regulate interstate commerce. It was proposed and passed in 1890 by Ohio Senator John Sherman.

Why was the Sherman Antitrust Act passed quizlet?

Congress passed the Sherman Anti-Trust Act in 1890 to curb giant combinations controlling transportation, industry, and commerce. The Act aimed to stop the concentration of wealth and economic power in the hands of the few.

What was the purpose of the Sherman Antitrust Act of 1890 quizlet?

-Passed in 1890, the Sherman Antitrust Act was the first major legislation passed to address oppressive business practices associated with cartels and oppressive monopolies. The Sherman Antitrust Act is a federal law prohibiting any contract, trust, or conspiracy in restraint of interstate or foreign trade.

What was the effect of the Sherman Antitrust Act quizlet?

What was the chief effect of the Sherman Antitrust Act? The federal government won the power to prevent monopolies and mergers that interfered with trade between states.

What was the problem with the Sherman Antitrust Act?

The main reason that the Sherman Antitrust Act was not very effective was that the government did not generally have much interest in enforcing it. Part of this is that the government was not (at least until the time of the Progressives) very supportive of the idea of regulating business.

What were the weakness of the Sherman Antitrust Act?

The most important weakness of the Sherman Antitrust Act was that it wasn’t specific about the types of acts which would violate the law. The primary purpose of antitrust legislation is to

What was the purpose of the Shermans Antitrust Act?

The Sherman Antitrust Act (the Act) is a landmark U.S. law, passed in 1890, that outlawed trusts -groups of businesses that collude or merge to form a monopoly in order to dictate pricing in a particular market. The Act’s purpose was to promote economic fairness and competitiveness and to regulate interstate commerce .

What are penalties did the Sherman Antitrust Act impose?

The Sherman Antitrust Act already carries hefty civil penalties in terms of automatic treble damages, injunctive relief and related lengthy consent decrees, reasonable attorney fees and costs and possible disbarment from government contracts .