Ps Study Guide
Assess antitrust and associationalism as distinctive sets of regulatory principles. Compare and contrast these principles as they signify fundamental attitudes toward private business, the market, and government intervention. Drawing broadly from the course materials, critically discuss the strengths and weaknesses of each approach as a means for securing more public‐regarding behavior on the part of U.S. business.
Anti Trust a. common law principles of business regulation prior to modern anti trust era anti trust movement and agrarian laws (1880s) b. anti trust debate of bus coop and advocates of business competition c. Sherman ac t of 1890 and 3 part evolution (from free unrestricted competition to rule of reason) d. FTc and clayton act e. •The Sherman Act of 1890
Sherman Anti Trust Law
–Section 1: “Every contract, combination . . . or conspiracy in restraint of trade or commerce among the several states . . . is hereby declared to be illegal before used common law but that only works when it is slow pace and no massive scales of economies
Anti trust movement 1880s-1890s a. common law tolerance toward combinations in restraint of trade! b. Replace with strict and punitive statutory actions to break up horizontal combinations c. Question of competition and cooperation in industrial economy
In favor of cooperation Theo Roosevelt a. abundance efficiency and productivity from economics of scale b. consumer welfare cost savings stretches dollar c. conservation: less waste of natural resources d. economic stability: moderation of bus cycle e. social and moral responsibilities --? Coop, worker welfare, and public philan 5 dollar a day work day and the 8 hour day for ford, Carnegie endownment for international peace, morality in decision making competitive economy reduces moral playing field in the market place to the level of its least ethical members
In favor of enforced competition
Anti Trust a. common law principles of business regulation prior to modern anti trust era anti trust movement and agrarian laws (1880s) b. anti trust debate of bus coop and advocates of business competition c. Sherman ac t of 1890 and 3 part evolution (from free unrestricted competition to rule of reason) d. FTc and clayton act e. •The Sherman Act of 1890
Sherman Anti Trust Law
–Section 1: “Every contract, combination . . . or conspiracy in restraint of trade or commerce among the several states . . . is hereby declared to be illegal before used common law but that only works when it is slow pace and no massive scales of economies
Anti trust movement 1880s-1890s a. common law tolerance toward combinations in restraint of trade! b. Replace with strict and punitive statutory actions to break up horizontal combinations c. Question of competition and cooperation in industrial economy
In favor of cooperation Theo Roosevelt a. abundance efficiency and productivity from economics of scale b. consumer welfare cost savings stretches dollar c. conservation: less waste of natural resources d. economic stability: moderation of bus cycle e. social and moral responsibilities --? Coop, worker welfare, and public philan 5 dollar a day work day and the 8 hour day for ford, Carnegie endownment for international peace, morality in decision making competitive economy reduces moral playing field in the market place to the level of its least ethical members
In favor of enforced competition