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Economics Anti-Trust Laws

QuestionAnswer
Interstate Commerce Act Created the Interstate Commerce Commission (ICC) to oversee railroad rates; currently regulates railroads, motor vehicles, and other freight carriers.
Sherman Antitrust Act Prohibits any agreements, contracts, or conspiracies that would restrain interstate trade or cause monopolies to form
Clayton Anitrust Act Clarified and strengthened the Sherman Antitrust Act by prohibiting price discrimination, local price cuttin, mergers that reduce competition, and exclusive sales contracts.
Antitrust Procedures and Penalties Act Increased penalties for violating antitrust laws
Federal Trade Commission Act Created the Federal Trade Commission (FTC) to inverstigate charges of unfair methods of competition and commerce
Celler-Kefauver Act Amended the Clayton Act to prohibit corporate acquisitions when they substantically decrease competiton
Parens Patriae Act Gives states the right to sue companies on behalf of citizens harmed by the company's antitrust violations; requires large companies to notify the government of planned mergers
Robinson-Patman Act is a United States federal law that prohibits anticompetitive practices by producers, specifically price discrimination. It grew out of practices in which chain stores were allowed to purchase goods at lower prices than other retailers
Created by: Reece1