|
|
Article: Clayton Anti-Trust Act
- Article from:
- Gale Encyclopedia of U.S. Economic History
CopyrightCOPYRIGHT 1999 The Gale Group Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
CLAYTON ANTI-TRUST ACT
Passed by Congress in 1914, the Clayton Anti-Trust Act strengthened the legislation of the Sherman Anti-Trust Act of 1890. The Clayton Act thus provided the government with more power to prosecute trusts (large business combinations that conspired to limit competition and monopolize a market). The Sherman legislation declared as illegal every "contract, combination, or conspiracy in restraint of interstate and foreign trade." The Clayton legislation outlawed price fixing (the practice of pricing below or above cost to eliminate a competitive product), made it illegal for the same executives to manage two or more competing companies (a practice called interlocking ...