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DSST Business Ethics and Society-Study Guide 2

State contributions ban corporate and labor union

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state contributions, ban corporate and labor union contributions and eliminate soft money contributions to political parties . Hard money is contributed directly to a candidate. It is regulated by law and monitored by the Federal Election Commission. Individuals can give no more than $1,000 to a specific candidate in a given year. Soft money is contributed to the Republican and Democratic National Committees, and to the party committees in each state. 'Soft' contributions are not as heavily regulated. It cannot be used for a campaign promoting the election of a particular politician by name. Alien Tort Claims Act ( ATCA ) , also called the Alien Tort Statute allows noncitizens to sue individuals present in the US who committed acts of torture. The ATCA and the Torture Victim Protection Act (TVPA) allow US federal courts to hear civil claims against persons allegedly responsible for severe human rights abuse. This statute is notable for allowing US courts to hear human rights cases brought by foreign citizens for conduct committed outside the US. Patriot Act (2001) – Legislation that repealed the rights enacted by the Privacy Act of 1974 Uniting and Strengthening America by P roviding A ppropriate T ools to I ntercept and O bstruct T errorism . Designed to considerably increase the surveillance and investigative powers of local law enforcement agencies but it has been argued that since it was hastily introduced, it lacks the normal checks/balances that safeguard civil liberties. Sherman Act (1890) antitrust legislation designed to outlaw certain anti-competitive behaviors. Its goal is to prohibit corporations from too much controlling interest in one industry as that controlling interest may equate to less than fair pricing and availability of products. It prevents behavior that leads to a reduction in market competition. Clayton Act (1914) stipulates that business which restricts customers from buying from its competition as part of it terms of doing business is engaging in anti-competitive behavior, which is illegal. The Sherman Antitrust Act was written in rather vague terms, so the Clayton Act was passed to limit specific activities that tend to reduce competition. Clayton Act prohibits price discrimination, tying and exclusive agreements, and the acquisition of stock in another corporation when the result is to substantially lessen competition or create a monopoly. Federal Trade Commission Act . 1914 created a federal agency which regulates marketing practices and prohibits unfair methods of competition. Created the Federal Trade Commission to investigate and enforce laws such as Sherman and Clayton Act. B ipartisan body of 5 members appointed by the president of the US for 7-year terms. Authorized to issue “cease and desist” orders to large corporations to curb unfair trade practices. Also gave more flexibility to Congress for judicial matters. A famous example of antitrust legislation, intended to prevent individual companies or groups of companies from
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