What is antitrust policy and its historical rise to existence?
The purpose of the various antitrust acts and laws is to ensure that the U.S. economy can reach equilibrium without being restrained, hampered, or obstructed by the undue influence of large companies or groups of companies engaging in anti-competitive behavior (Advameg, 2012).
History of antitrust policy:
The term 'antitrust', which grew out of the US trust-busting policies of the late nineteenth century, developed over the twentieth century to connote a broad array of policies that affect competition (Advameg, 2012).
The Sherman Antitrust Act of 1890
The Sherman Antitrust act limits a business's ability to dominate its competitors in the marketplace, the new law made the American economic system more dynamic and more open to new competitors and new technologies. The next century saw great economic expansion and heightened living standards in the United States (Peritz, 2008).
Section two of the Sherman Act states that it is illegal for any person to monopolize, or attempt to monopolize, or combine or conspire with any other person or persons, to monopolize any part of the trade or commerce among ...
The solution traces the origin and purposes of the anti-trust policy in the United States.