Sherman Anti-Trust Act (1890
38 points - today at 8:56 PM
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The reality is that the law itself was not very well written, and takes an extremely litigious executive branch to do anything with.
Even if you agreed with the premise (the idea that Standard Oil arose purely through conspiracy is clearly wrong), it's ultimately a very ticky tacky set of definitions and has failed to achieve anything meaningfully as policy (do we actually feel strongly that breaking Microsoft's productivity suite from their OS division was really worth all the effort?)
(The notable exceptions being actual illegal coordination - like was recently uncovered in the egg industry. But these have more to do with price fixing amongst competitors and less with actual Trusts/Monopolies)
The only practical way that countries have tackled monopolies has been to write legislation that specifically puts oversight on that industry.
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> Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
> Sec. 1. Every contract, combination in the form of trust or other- wise, or conspiracy, in restraint of trade or commerce among the several States, or with foreign nations, is hereby declared to be illegal. Every person who shall make any such contract or engage in any such combination or conspiracy, shall be deemed guilty of a misdemeanor, and, on conviction thereof, shall be punished by fine not exceeding five thousand dollars, or by imprisonment not exceeding one year, or by both said punishments, at the discretion of the court.
> Sec. 2. Every person who shall 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 several States, or with foreign nations, shall be deemed guilty of a misdemeanor, and, on conviction thereof; shall be punished by fine not exceeding five thousand dollars, or by imprisonment not exceeding one year, or by both said punishments, in the discretion of the court.