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Sherman Anti-Trust Act and Other Anti-Trust Laws - Essay Example

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Sherman Anti-Trust Act and Other Anti-Trust Laws

Even though, the intent reason behind Sherman Act formulation was to forbid the existence of monopolies, its failure began with the courts lack of uniformed definition of how monopolies could be attained through abused power. This is because, the formulation of the anti-trust law by congress was made in broad common law concepts as it lacked details that clearly defined monopoly and trust that would guide the court’s interpretation. However, it is unfortunate that President Teddy Roosevelt’s approach towards regulating big business and enforcing the antitrust laws is that he sided with the growth of trusts that lead to high price setting and increased monopoly power (Kolko 128). This is because he showed continued support for trust combination as he described it as the key to success in big business he further shows his support for the Morgan’s case that conflicted with the anti-trust laws. More significantly, the act failed to prevent illegal consolidation of industries because the earlier courts that made rulings based on the act limited the scope of the act as it made interpretations that created ambiguities of law (McCraw 68). Considerably, the failure of the Sherman Act that was focused on providing intent foundation of positive government action against business monopolies failed because there was no clear understanding of monopoly structures that were legal or illegal as per the court’s interpretation. As a result, the anti-trust law failed to curb the emergence of powerful trusts

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Name Class Name Date Business History Sherman Anti-Trust Act and other anti-trust laws More considerably, the main function of the anti-trust law was to eliminate the illegal conduct among the dealers in the market as it intended to promote free and fair marketplace competition (Kolko 126)…
Sherman Anti-Trust Act and Other Anti-Trust Laws
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