Fair Competition among Businesses

563 Words3 Pages
There are laws in place, by the federal government, to ensure there is fair competition among businesses. The laws create fairness through: prevention of monopolies, trade regulations, production ethics, and fixed and pricing. The significant anti-trust laws are: Federal Trade and Commission, Clayton Anti-trust act, Celler Kefauver act, and Sherman Anti-trust act. The Federal Trade Commission (FTC), was created in 1914. The job of the FTC is to eliminate non-competitive business practices and to protect the consumers. During the Progressive Era, trust busting and trusts were very popular. Woodrow Wilson created the FTC, to help eliminate trusts. The Clayton Anti-trust act was created in 1914. This was created by the U.S. Congress to help the Sherman Anti-trust act. This act prohibited mergers and acquisitions that would eliminate the competition amongst companies. This also eliminated any price discrimination that would lessen competition. Attorney generals were able to enforce through prosecution the federal anti-trust laws. This act also regulated acquisitions from stock and tying ...
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