Econ1B researcj

Econ1B researcj - Professor Zill Microeconomics 14 May,...

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Professor Zill Microeconomics 14 May, 2007 History of Anti-Trust in US During 1880 and 1890 several corporations began growing so large that many were worried that they would begin to monopolize industries. With growing concerns over the growing corporations, republicans felt that it was necessary to protect free competition and opportunity for people to start up their own businesses without fear of the being taken over. As a result, Senator John Sherman proposed a bill that would grant the Justice Department the authority to regulate corporate activity and ensure that no company gained a monopoly in an industry. In 1890 congress passed the bill, naming it the Sherman Antitrust Act, but due to some Supreme Court rulings the law was not put in place for several years. The act stated that, "every contract, combination in the form of trust or otherwise, or conspiracy, in restraint of trade or commerce among the several states, or with foreign nations, is hereby declared illegal" (cse- stanford). As business began to grow bigger and bigger a group of people known as the Progressive
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Econ1B researcj - Professor Zill Microeconomics 14 May,...

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