What Is the Sherman Antitrust Act?

The Sherman Antitrust Act was in 1890. The first and most basic legal antitrust law enacted by the US Congress was the first law in American history to authorize the federal government to control and interfere with the economy. The law was named after Senator John Sherman, and its formal name is the Law on Protection of Trade and Commerce from Illegal Restrictions and Monopolies. The law stipulates that it is illegal to enter into a contract in the form of a trust, implement merger or conspiracy to restrict trade, and it is a monopoly or attempt to monopolize, unite or conspire to monopolize any part of interstate commerce and trade. Individuals or organizations that violate the law will be subject to civil or criminal sanctions.

Sherman Antitrust Act

The Sherman Antitrust Act has laid a solid foundation for antitrust law, but the wording of the law is very vague and general. Key terms such as "trade", "union", "restriction" and so on are unknown, leaving a judicial interpretation It has a wide space, and this judicial interpretation is deeply influenced by the economic background. Therefore, the enforcement of the law was weak. In addition, the law is often used by the courts to oppose trade union organizations and suppress the workers' movement. From 1890 to 1897, the Federal Supreme Court issued 12 judgments against the union.