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Antitrust Essay

  • Submitted by: cejacobs7984
  • on July 28, 2013
  • Category: Miscellaneous
  • Length: 762 words

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Below is an essay on "Antitrust" from Anti Essays, your source for research papers, essays, and term paper examples.

Anti-competitive practices date back hundreds of years.   Corporations have always wanted to find a way to make the most money off of their product that they possibly can.   This practice got out of control in the late 1800s, when companies like Standard Oil and U.S. Steel completely controlled their respective markets.   The government recognized this, and soon took action.   The four major actions that were born are known as the Antitrust Laws.The Sherman Antitrust Act, the first of the Antitrust Laws was the initial step by the government to limit market control by monopolies. The Sherman Act makes it illegal to unreasonably restrain trade by price-fixing or other means. It also makes it unlawful to attempt monopolization in any market.The FTC Act or Federal Trade Commission Act is the act that perpetuated the organization of the FTC. It outlines the law against unfair or deceptive business practices.   The Clayton Act outlines laws against mergers that may have monopolistic tendencies. It also outlaws interlocking directorates, or the same person making major decisions for two competing companies.   An Oligopoly is a market situation in which a select few competitors have the ability to affect the market. Although they do not control the market, an act such as a cut in price will subsequently cause a drop in the price of the competitors. This leads to an anti-competitive situation, thus competition is displayed other ways such as marketing or product improvements. In an Oligopolistic situation, the Antitrust Laws are meant to limit agreements amongst competitors concerning pricing or market share.A Monopoly is a market situation in which one produce makes a product for which there is no alternative. This leads to a circumstance in which the company can minimize output and gouge pricing. The intended purpose of the Antitrust Laws in this situation is to limit a merger or acquisition that it likely to lead to such a large market share as to significantly reduce...

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