The Sherman Antitrust Act (Sherman Act, 26 Stat. 209, 15 U.S.C. §§ 1–7) is a landmark federal statute in the history of United States antitrust law (or “competition law“) passed by Congress in 1890. Passed under the presidency of Benjamin Harrison, it prohibits certain business activities that federal government regulators deem to be anti-competitive, and requires the federal government to investigate and pursue trusts.
In the general sense, a trust is a centuries-old form of a contract whereby one party entrusts its property to a second party. These are commonly used to hold inheritances for the benefit of children, for example. The specific sense from 19th Century America used in the law refers to a type of trust which combines several large businesses for monopolistic purposes – to exert complete control over a market – though the law addresses monopolistic practices even if they have nothing to do with this specific legal arrangement. In most countries outside the United States, antitrust law is known as “competition law.”
The law attempts to prevent the artificial raising of prices by restriction of trade or supply. “Innocent monopoly”, or monopoly achieved solely by merit, is perfectly legal, but acts by a monopolist to artificially preserve that status, or nefarious dealings to create a monopoly, are not. The purpose of the Sherman Act is not to protect competitors from harm from legitimately successful businesses, nor to prevent businesses from gaining honest profits from consumers, but rather to preserve a competitive marketplace to protect consumers from abuses.
OK I HAVE ONE FREAKIN QUESTION?
This is federal law and why haven’t our lawmakers used this act to STOP the health care and pharmaceutical companies? Do they not know the law? Are they blind that these industries are monopolies? OR do they want us as slaves to the system for our time in the country or on this planet should one decide to live here? Also, this goes far beyond health care, this pertains to oil companies, telecommunication companies etc. . The way this reads our lawmakers are idiots and don’t or won’t enforce the laws on the books. And where will President-Elect Trump stand on this? Follow the sheeple or have a set and do something about it.
A colleague of mine reminded me of this the other day. I did some research and this just PROVES YOUR GOVERNMENT is out to enslave you not take the shackles off. They have the law behind them and can enact this with the stroke of a pen.
WHY HASN’T IT HAPPENED YET?
See if you can come up with an answer in the comments section I would like to know!