Ch 40 dis Essay Example | Topics and Well Written Essays - 250 words - 1

Ch 40 dis - Essay Example No doubt free market economy reaps free trade benefits, businesses, and consumers the consumers as well. These have been classified into four main areas a) agreements between competitors b) contractual arrangements between sellers and buyers c) maintenance of monopoly power and d) mergers (West’s Encyclopedia of American Law 1997). The Sherman Anti-Trust Act of 1890 is the focal point for antitrust law which subsequently followed by the other States of the United States of America. The congress addressed the weaknesses of given acts and amended it accordingly. In this respect, we may refer the acts of Clayton Act of 1914 and the Robinson-Patman Act of 1936. The efforts of the Congress with regard to enforcement of law are highly appreciated. It should be taken into account the ongoing analysis influenced by economic, intellectual, and political changes. The U.S. Supreme Court has had the leading role in shaping up and applying these laws (West’s Encyclopedia of American Law 1997). Since the association of bakeries is responsible for creating monopolistic environment and raising the retail price of bread from 75 cent to 85 cent at their own whims and fancies, hence found violating and negating the antitrust