It prohibited four specific types of monopolistic practices. The clayton antitrust act attempts to prohibit certain actions that lead to anticompetitiveness. What is the sherman antitrust act and the clayton act. Taft and wilson roosevelts popularity was at its peak as the campaign of 1908 neared, but he was. The clayton act and federal trade commission acts of 1914 are. Pdf this article analyzes the evolution of antitrust law known as competition law in europe in united states of america.
The clayton antitrust act 1 the clayton antitrust act united states congress 1 overview the clayton antitrust act 1914 forbade several practices that destroyed competition or prevented new businesses from forming. In addition, the attorney general may sue under section 15 of the clayton act to enjoin conduct threatening a clear and irreparable harm to the national interest. It provided more detailed provisions to prohibit anticompetitive price discrimination, kept corporations from making exclusive dealing practices and expanded the ability for individuals to sue for damages. This act laid out specifically illegal actions that monopolies were doing. Conduct involving trade or commerce with foreign nations. The clayton act was written to put a lid on monopolies.
The clayton act of 1914 was one of the major pieces of legislation of the progressive era in american history. Congress in 1914 that provides further clarification and substance to the sherman antitrust act of 1890 on topics such as price discrimination, price fixing and unfair business practices. Whereas the sherman act only declared monopoly illegal, the clayton act defined as illegal certain business practices that are conductive to the formation of monopolies or that result from them. Clayton antitrust act legal definition merriamwebster. The trusts issue culminated in the passage of the clayton act in1914, which conventional wisdom holds was a response to theperceived ineffectiveness of the sherman antitrust act of 1890. The clayton act is a civil statute carrying no criminal penalties that was passed in 1914 and significantly amended in 1950.
Download clayton act of 1914 h r 15657 pdf ebook clayton act of 1914 h r 15657 clayton act of 1914 h r 15657 ebook auth. The clayton antitrust act provides barriers to a broad range of anticompetitiveness issues. The clayton act 1914 this act made the following business. The clayton antitrust act of 1914 accomplished all of the following except providing longterm legal protection for unions to engage in organizing, collective bargaining, and strike activities. Download as ppt, pdf, txt or read online from scribd. The robinsonpatman act is an amendment to the 1914 clayton antitrust act and is. The clayton act 1914 this act made the following business practices illegal when their effects may be to substantially lessen competition or tend to create a monopoly.
A federal law passed in 1936 to outlaw price discrimination. Clayton antitrust act summary, history, significance. The clayton antitrust act of 1914 was a part of united states antitrust law with the goal of. He did not, therefore, make note of this point in the preceding article. What presidential action illustrated the limits of woodrow wilsons progressivism. Doj may enforce the sherman act prohibitions through criminal or civil actions. The clayton antitrust act of 1914 clayton antitrust act pt 4 organized labor was as heartened by the act as it had been dejected by the doctrine of the danbury hatters case, but subsequent judicial construction weakened the acts labor provisions. By supporting the clayton act of 1914, president wilson. History project by emily carpentier, constantine banez and rachel miyagawa. One of the important new freedom progressive reforms, attacks against unfair business practices and federal laws. Some of these general practices regulated by the clayton act are.
The clayton antitrust act of 1914, codified at 15 u. In september of 1914, president woodrow wilson addressed the teamsters convention. Antitrust laws with amendments, 18901956, clayton antitrust act by gilman g. The union was now a key player in the political realm and a powerful force in the labor movement. The clayton antitrust act is an amendment passed by u. The purpose of the clayton act was to give more enforcement teeth to the sherman antitrust act.
Congress in 1914 that provides further clarification and substance to the sherman antitrust act of 1890 on topics. The clayton antitrust act is comprised of 12, 1419, 20, 21, 2227 of title 15. It extended the sherman antitrust act of 1890, acting as one of the governments chief weapons against trusts. What is the clayton antitrust act the clayton antitrust act is an amendment passed by u. Before the clayton antitrust act of 1914, there was the sherman antitrust act. Sherman act and the 1914 clayton act, which have been refined through amendment over time. The sherman antitrust act, the clayton act, and the federal.
The passing of the clayton antitrust act was considered to be prompted by a variety of catalysts, which included the monopolization of commercial markets, unethical commercialpricing strategies, consumer protection, employee protection, and the presumed. Org the clayton antitrust act 1914 the clayton antitrust act is comprised of 12, 1419, 20, 21, 2227 of title 15. Enacted in 1890, the sherman act had been the first federal law intended to protect consumers by outlawing monopolies, cartels, and trusts. The word person or persons wherever used in this act shall be deemed to include corporations and associations existing under or authorized by the laws of either the united states, the laws of any of the territories, the laws of any state, or the laws of any foreign country. In 1914, the clayton act was enacted by congress to strengthen the antitrust laws that were put into place by the sherman act. In the united states, the clayton antitrust act of 1914 was enacted to remedy perceived deficiencies in antitrust law created under the sherman antitrust act of 1890. This act made the following business practices illegal when their effects may be to substantially lessen competition or tend to create a monopoly. This event was a major milestone for tobin and the teamsters. Under this act, as amended, the commission is empowered, among other things, to a prevent unfair methods of competition and unfair or deceptive acts or practices in or affecting commerce. The clayton act home alphabetic chronological legal area product full textsearch key statutes glossary links antitrust. Congress in 1914 that provides further clarification and substance to the sherman antitrust act of 1890.
Why did the government pass the clayton antitrust act of 1914. The sherman act still needed more strengthening, so congress acted again in 1914. Clayton antitrust act, law enacted in 1914 by the united states congress to clarify and strengthen the sherman antitrust act. Enacted in 1890 it was fairly limited in scope and was intended to prohibit unscrupulous business. The clayton act sought to enhance and address weaknesses in the sherman act by preventing such unfair or anti. Ch03 the environments of marketing channels clayton. The empirical findings strongly support the wealth transferhypothesis.
It encompasses mergers as well as acquisitions of some or all of the stock or assets of one entity by another. A corporate guideline of ethics needs to go beyond the issues covered by legislation. The smithlever act of 1914 established an extension system of county agents to assist farming throughout the. Section 7 of the clayton antitrust act of 1914 clayton act, as amended, applies to any acquisition of stock or assets within interstate commerce within the united states. The clayton act 1914 aims to further prevent anticompetitive behavior of. The sherman antitrust act of 1890, the clayton act of 1914, the robinsonpatman act of 1936, and the federal trade commission act of 1914 together ensure interfirm competition without interfering with the spirit and creativity of the marketing industry. The clayton act of 1914 is an example of which of the following. The clayton antitrust act 1914 the clayton antitrust act is comprised of 12, 1419, 20, 21, 2227 of title 15. Passed in 1914, the clayton act regulates general practices that may be detrimental to fair competition. Sherman act 7 foreign trade antitrust improvements act of 1982, 15 u. A federal law enacted in 1914 as an amendment to the sherman antitrust act 15 u. Antitrust enforcement and the consumer department of justice.
Some sections have been edited or eliminated because of space concerns. The university of oxford centre for competition law and policy. The ftc was established in the federal trade commission act of 1914 with the specific purpose of enforcing preceding antitrust laws such as the sherman. Pdf the evolution ofantitrust law in usa researchgate. The federal trade commission act is the primary statute of the commission. Antitrust laws with amendments, 18901956, clayton antitrust act. The trusts issue culminated in the passage of the clayton act in1914, which conventional wisdom holds was a response. It made it illegal for competitors to buy each other out without approval. Note also that a, b, and 21a comprise the robinsonpatman price discrimination act 1936. Clayton antitrust act, law enacted in 1914 by the united states congress to clarify and strengthen the sherman antitrust act 1890.
1080 165 304 697 1213 174 32 978 402 1430 1479 1060 531 982 306 988 630 1292 424 1028 1272 477 1355 951 287 84 1201 530 116 745 1477 952 198 98 1315 1376 1158 436 1386 24 902 129 692 1304