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The Sherman Act of 1890 provided the basic Federal Statute for prosecution and ultimate dissolution of the Standard Oil Trust in 1911, which had
The Sherman Act of 1890 provided the basic Federal Statute for prosecution and ultimate dissolution of the Standard Oil Trust in 1911, which had functioned as a monopoly controlling 92% of the oil and natural gas business in the United States; also known as the great clash between President Theodore Roosevelt and Exxon Founder John D. Rockefeller. This famous Supreme Court case was followed by the Clayton Act of 1914, which sought to prevent formation of future monopolies, and outlined a number of prohibited business activities. A century later lawyers, economists, and other business people continue to debate the goals and/or benefits of antitrust legislation, and resulting court decisions. List and discuss the four goals of antitrust statutes, and then identify the specific elements of business activities targeted as restraint of trade. Analyze and evaluate the various issues presented while arguing and debating the connections between business, law, politics, and ethics. (Points : 30)
