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The Sherman Antitrust Act and the Clayton Antitrust Act were passed in an effort to?
Reign in Big Business and set rates and standards for all transportation/freight charges and close monopolies in business that cut out the small Entrepeneurs. Competition is a good thing for both business and consumers. John Rockefeller was the original Trust Baron with Superior Oil, owning 90% of America's oil refineries. The railroad barons were giving favored rates to other big business and rail owners and higher rates for the small business men and farmers. These two acts changed how American business worked and helped spur increasing Entrepeneurs and manufacturers.
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Who vigorously prosecuted the Sherman Antitrust Law?
President Theodore Roosevelt was very aggressive to enforce the Sherman Antitrust Law passed in 1890. President Roosevelt filed suite against forty-five companies under the Sherman Antitrust Act.
Why was the Clayton antitrust act important?
Clayton Antitrust Act, legislation passed by the United States Congress in 1914 to prohibit certain monopolistic practices that were then common in finance, industry, and trade (see Monopoly). Sponsored by the Alabama congressman Henry De Lamar Clayton, the Clayton Antitrust Act was adopted as an amendment to the Sherman Antitrust Act. Designed to deal with new monopolistic practices, the act contained three distinct types of provisions, covering corporate activities, remedies for reform, and labor disputes.
Both the interstate commerce act and the sherman antitrust act were?
Passed by the federal government to regulate big business (this is for castle learning i bet)
True or False According to the Clayton Antitrust Act unions were illegal organizations similar to trust?
No. The Sherman Antitrust Act of 1890, designed to protect society from corporate entities unfairly raising prices for consumers due to unfair competition. (Examples might include Andrew Carnegie, the Steel magnate who essentially could have set steel prices at any price he so chose, as there was no real competition to undercut his prices), was being applied to labor unions as organizations which were being said to unfairly raise the cost of labor, thus financially hurting the consumers. The Clayton Act of 1914 was passed, in part, to clarify that "the labor of a human being is not a commodity or article of commerce. Nothing contained in the antitrust laws shall be construed to forbid the existence and operations of labor [unions]... nor shall such organizations... be held or construed to be illegal combinations or conspiracies in restraint of trade." An interesting fact to be considered, a provision of the Clayton act (poor wording) gave organizations the right to seek immediate injunctions to send striking/boycotting workers back to work. Prior to Clayton, the only way an injunction could be obtained was by a District Attorney. The Clayton Act could be argued to have been more damaging to labor unions than helpful!
Which of the following prohibits price discrimination the sherman act the clayton act the federal trade commission act or the full employment and balanced growth act?
The Clayton ActCritics of the Sherman Act, including famous trust-buster President Teddy Roosevelt, felt the ambiguity of the Sherman Act was an impediment to its use and that the United States needed a more detailed law setting out a list of illegal activities. The Clayton ActClayton ActSecond major U.S. antitrust law; prohibits various behaviors leading to a lessening of competition., 15 U.S.C. §§ 12-27, was passed in 1914 and it adds detail to the Sherman Act. The same year, the FTC Act was passed, creating the Federal Trade Commission (FTC)Federal Trade Commission (FTC)Federal government agency that enforces the antitrust laws, along with the U.S. Department of Justice (DOJ), and provides consumer protection., which has authority to enforce the Clayton Act as well as to engage in other consumer protection activities.The Clayton Act does not have criminal penalties, but it does allow for monetary penalties that are three times as large as the damage created by the illegal behavior. Consequently, a firm, motivated by the possibility of obtaining a large damage award, may sue another firm for infringement of the Clayton Act. A plaintiff must be directly harmed to bring such a suit. Thus, customers who paid higher prices or firms that were driven out of business by exclusionary practices are permitted to sue under the Clayton Act. When Archer Daniels Midland raised the price of lysine, pork producers who bought lysine would have standing to sue, but final pork consumers who paid higher prices for pork, but who didn't directly buy lysine, would not.Highlights of the Clayton Act include:Section 2, which prohibits price discrimination that would lessen competitionSection 3, which prohibits exclusionary practices, such as tying, exclusive dealing, and predatory pricing, that lessen competitionSection 7, which prohibits share acquisition or merger that would lessen competition or create a monopoly
