The United States Laws

In: Business and Management

Submitted By jingram21
Words 619
Pages 3
The United States government has laws intended to further fair, balanced, anticompetitive business practices called the antitrust laws. These laws are meant to “correct” the inherent contradiction of market economies, which in many key markets, one firm or a few major firms often come to dominate the entire market. Once this happens competition is none. If competition makes people act on their best behavior, then the antitrust laws gives incentives to competitors to do the same rather than abuse their dominance in order to take advantage of their customers. The antitrust laws serve to check the improper acquisition and abuse of market dominance, so I feel that to a certain extent these laws are effective. The United States would have more monopolies then it currently has, if these types of laws were not in place. However, I always thought that these laws were in place to also ensure competition in our economy. The anti-monopoly law, which is really a better way to understand what antitrust is, is a set of political laws to help prevent concentrations of political power. These laws were put in place a while back; I would say from the tea party, in the late 1700’s, all the way up until the Civil War, the U.S. Government did a pretty good job of preventing monopolies in the United States.
The Sherman act of 1890 was aimed at collusion among companies to constrain freedom of trade, while the Clayton act of 1914 went further and specifying anti-competitive practices such as bundling or mergers that create excessive concentration in an industry (Unknown, 2014). Over the past few decades, in part under the increasing influence of free-market economic theory, antitrust enforcement by the Department of Justice has become more tolerant of size and concentration in themselves and has focused instead on whether mergers will benefit or harm consumers. On one hand, increased…...

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