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| Topic: |
Social Issues
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| Number of pages / Number of words: |
10 / 2744 |
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Furthermore, because common law was the only source of law for dealing with these business problems, those laws that did exist were nonuniform. In reaction to the lack of laws and the public outcry over business abuses, Congress became involved, passing federal statutes on antitrust issues in the late nineteenth and early twentieth centuries...
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With some amendments and changes, this scheme still exists and applies today†(p. 658).
Congresses reaction to so called “predatory business practices†and the alleged “public outcry over business abuses†led to such laws as the Sherman, Clayton, and Robinson-Patman Acts. According to Jennings (2006), “the Sherman Act covers the horizontal restraints of price fixing, market division, group boycotts and refusals to deal, joint ventures, and monopolization†(p...
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