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Money, Business, and Competition are some of the fundamental concepts of capitalism. The U.S is a capitalist country, but also somewhat of an enforcer to equal opportunity for all people to explore their business endeavors. Competitors always need a referee that regulate, mediate, and make logical judgments. The goal of businesses in the 1800’s was to form a trust or also known as a monopoly in order to prevent competition from other firms to enter the same line of business. The Antitrust Laws are a product of the U.S. government’s plan to ensure that no business can limit competition for others.
The first law made was the Sherman Antitrust Act of 1890, which was designed to regulate the competitive process. This caused debate during that time because it contradicted the ideology of the U.S. which favored “laissez-faire”. Government involvement in businesses effected competition and business prices. The first section in the Sherman Antitrust Act declared that “Every contract, combination in the form of trust or otherwise, or conspiracy, in restraint of trade or commerce among several States, or with foreign nations, is hereby illegal.” The second section summed up the punishment that would be enforced if businesses violated the first section.
In 1914 Congress passed the Clayton Antitrust Act and the Federal Trade Commission Act (FTC), which declared “specific monopolistic practices and unfair methods of competition” illegal. The Clayton Act was solid, but the FTC Act was too
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