during the gilded age, how did the us congress act to regulate business practices? This is a topic that many people are looking for. caraimica.org is a channel providing useful information about learning, life, digital marketing and online courses …. it will help you have an overview and solid multi-faceted knowledge . Today, caraimica.org would like to introduce to you History Brief: Woodrow Wilsons Antitrust Acts. Following along are instructions in the video below:
s antitrust measures trusts and trustbusting were major political concerns of the progressive era while while campaigning for president woodrow wilson. Made the issue of breaking up trusts a major of emphasis promising to continue busting them. If he were elected during wilsons presidency congress passed two major antitrust measures in 1914.
The clayton antitrust act sought to strengthen the sherman antitrust act. Which had been passed in 1890. The sherman antitrust act aimed at weakening business trusts had proven ineffective large trusts often called cartels were quick to find ways around the law.
The sherman act triggered the largest wave of business mergers in us history as businessmen realized that instead of creating a cartel they could combine businesses together into a single corporation and still enjoy the benefits of a monopoly. The law also made it difficult for workers to organize and counter against the unequal bargaining power they held against employers. The clayton act made it illegal for corporations to purchase the stock of another company.
If the purchase would effectively create a monopoly. The law also made it possible for the federal government to prosecute executives of a corporation. Who violated the law.
The clayton antitrust act also proclaimed that peaceful strikes by workers peaceful picketing collecting strike benefits and boycotts by workers were legal. It stated that farm organizations and labor unions were not subject to antitrust laws. It also noted that injunctions against striking workers were forbidden unless the strikers became unruly or threatened extensive property damage.
The american federation of labor president samuel gompers. Hailed the clayton act as a major victory for laborers going as far as calling the law the. Magna carta of labor .
The second piece of antitrust legislation passed under wilson was the federal trade commission act of 1914 this law established. The federal trade commission ftc to serve as a watchdog agency over large corporations. The ftc s.
Main. Objective is the promotion of consumer protection and the elimination and prevention of business practices such as coercive monopolies. Which damage the spirit of fair competition.
The federal trade commission was granted the power to investigate violations of federal regulations and to put a stop to the use of unfair business tactics. The ftc also has the power to require periodic reports to the agency from large corporations. During wilsons time in office.
The ftc sent out nearly 400 cease and desist letters to corporations engaged in illegal or questionable activity since the creation of the ftc. The commission has been used as a government tool to enforce the provisions of the clayton antitrust act. .
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