The History of the Antitrust Laws Essay -- U.S. Law

In the 1800s there were some(prenominal) origines known as trusts. These trusts owned the entire perseverance. Railroads, sugar, oil, and steel were some of the major(ip) products that were controlled by these trusts. U.S. Steel and Standard crude oil were two big companies that were known for controlling their product and the application it was a part of. The oil sedulousness was an easy industry to be monopolized because the deposits were rare. The Standard Oil Company was structured by John D. Rockefeller in Ohio in 1870. At the time, the refining business was highly competitive, and Standard Oil had more than 250 competitors. Rockefeller and his associates took advantage of both the scarcity of oil and the returns produced from it to lay down a monopoly, with no help from the banks. The industry practices and questionable strategy that Rockefeller used to form Standard Oil do the Enron mass feel ashamed, but the completed product was not burn down as harmful to t he market or the environment as the industry was previous to Rockefeller monopolizing it. There once were a lot of oil companies competing to coiffure the most of their find. Companies would pump waste products into the rivers or on the ground because it address too much for research on how to dispose of it properly. They also mown costs by pumping through poor pipelines that were famous for seepage. Standard Oil eventually owned 90% of oil production and distribution in the United States, and they had learned how to make m maviny off of their waste products. Vaseline was one of many of the new products formed. Andrew Carnegie went a lengthy way in producing a monopoly in the steel industry U.S. Steel, a gigantic corporation well reaching the magnitude of Standard Oil. U.S. Steel ... ...rman+ActAntitrust An Overview. ANTITRUST. juristic Information Institute. Cornell University Law School. http//www.law.cornell.edu/wex/Antitrust Sherman Anti-Trust Act. LawBrain. http //lawbrain.com/wiki/Sherman_Anti-Trust_ActClayton Act. LawBrain. http//lawbrain.com/wiki/Clayton_Act Herbert Hovenkamp. Clayton Act (1914). Enotes. Major Acts of Congress, 2004 Gale Cengage. http//www.enotes.com/clayton-act-1914-reference/clayton-act-1914 Herbert Hovenkamp. Federal shell out Commission Act (1914). Enotes. Major Acts of Congress, 2004 Gale Cengage. http//www.enotes.com/federal-trade-commission-act-1914-100734-reference/federal-trade-commission-act-1914 Herbert Hovenkamp. Sherman Antitrust Act (1890). Enotes. Major Acts of Congress, 2004 Gale Cengage. http//www.enotes.com/sherman-antitrust-act-1890-101422-reference/sherman-antitrust-act-1890