- Antitrust is also the name for a movie, see Antitrust
(movie)
Antitrust or competition laws legislate against trade practices that undermine competitiveness or are considered to be unfair. The term
antitrust derives from the U.S. law that was
originally formulated to combat business trusts - now commonly known as cartels.
The Deceit of Antitrust[1] (http://en.wikipedia.org/pac/Antitrust#fn_Woods)
A monopolistic firm, according to the standard definition, reaps an economic benefit by restricting output and raising prices.
The industries most frequently accused in the late nineteenth century of holding a monopolistic posititon were neither
restricting output or raising prices.
The Results of "Predatory Pricing": Commodity Prices from 1880-1890
| Steel |
↓58% |
| Zinc |
↓20% |
| Sugar |
↓22% |
During the 1880s output of monopolistic industries grew seven times faster than the overall economy, while prices in these
industries were generally falling—even faster than the 7% rate of decline that occured in the economy as a whole.
Divisions
Most antitrust activity can be classified in the following areas:
Laws
Alabama became the first U.S.
state to enact an antitrust law on February 23, 1883.
Most free-market countries have an antitrust law of one form or another. The European Union has its own competition
law.
External links
References
Note: Thomas E. Woods, Jr., Ph.D (2004). The Politically
Incorrect Guide to American History, 99.
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