18.4 Antitrust Law

MyEconLab Concept Video

Antitrust law is the body of law that regulates oligopolies and prohibits them from becoming monopolies or behaving like monopolies.

The Antitrust Laws

Congress passed the first antitrust law, the Sherman Act, in 1890 in an atmosphere of outrage and disgust at the actions and practices of J. P. Morgan, John D. Rockefeller, and W. H. Vanderbilt—the so-called “robber barons.”

A wave of mergers at the turn of the twentieth century produced stronger antitrust laws. The Clayton Act of 1914 supplemented the Sherman Act, and Congress created the Federal Trade Commission to ...

Get Foundations of Economics, 8th Edition now with O’Reilly online learning.

O’Reilly members experience live online training, plus books, videos, and digital content from 200+ publishers.