The antitrust laws were enforced to protect the competitive market for consumers, so the open- market economy could be fair and lawful. Since the beginning of time, Antitrust laws were put into place and unknowingly, consumers saved millions of dollars a year. This law was put into place to make sure companies do not gain market control. It balances economic growth and controls the invasion of monopolies and fixed prices. In doing this, they are “ making sure there are strong incentives for businesses to operate efficiently, kept prices down, and kept quality up” [1]. Without the enforcement of these laws, companies will take advantage of the amount in which a consumer pays for a specific product and their will be an ineffective competition
…show more content…
In addition to the rules of the Sherman Act, President Woodrow Wilson put this act into place to eliminate the unfair methods of competition and offered misleading information about products to consumers. The regulators of this act consisted of five board members from a few different political parties, to regulate total control of one party. The new act also helped cease trusts and changed “the face of U.S. industrial organization” [4]. “The FTC has made many hundreds of rules governing many aspects of business behavior,” butt his act primarily focuses on truthfulness of advertising and product warranties refund agreements between the customer and the seller [3]. Since technology has expanded, so has the world of advertisement. Advertisements has became a phenomena because a large amount of profits are made from them. Product produces have pushed advertising on consumer by overloading Ad’s on social media websites, printed media and phone solicitations. In 2003 the FTC nationally enforced a ‘Do Not Call Registry’ that helped cut down telemarketing phone calls. The only organization that are not blocked are charities and political organizations. One incentive some organizations had were if the citizen previously has done any business with the organization, the org was “allowed to call for up to eighteen months after the most recent transaction” [3], to give them the opportunity to advertise. …show more content…
“ The act prohibited exclusive sales contracts, local price cutting to freeze out competitors, rebates, interlocking directorates in corporations capitalized at $1 million or more in the same field of business, and intercorporate stock holdings” [6]. In regards to labor union, this act determined that human labor disputes can be settled by strikes and boycotts, something that was deemed unlawful under the Sherman Antitrust Act. The most important part of this act was if a company buys a competing firm they then create an anticompetitive merger. “While most mergers allow the companies to create better quality goods at less expensive prices, some mergers limit competition and make price fixing easier. This part of the act was designed to prevent mergers from creating
In addition to the rules of the Sherman Act, President Woodrow Wilson put this act into place to eliminate the unfair methods of competition and offered misleading information about products to consumers. The regulators of this act consisted of five board members from a few different political parties, to regulate total control of one party. The new act also helped cease trusts and changed “the face of U.S. industrial organization” [4]. “The FTC has made many hundreds of rules governing many aspects of business behavior,” butt his act primarily focuses on truthfulness of advertising and product warranties refund agreements between the customer and the seller [3]. Since technology has expanded, so has the world of advertisement. Advertisements has became a phenomena because a large amount of profits are made from them. Product produces have pushed advertising on consumer by overloading Ad’s on social media websites, printed media and phone solicitations. In 2003 the FTC nationally enforced a ‘Do Not Call Registry’ that helped cut down telemarketing phone calls. The only organization that are not blocked are charities and political organizations. One incentive some organizations had were if the citizen previously has done any business with the organization, the org was “allowed to call for up to eighteen months after the most recent transaction” [3], to give them the opportunity to advertise. …show more content…
“ The act prohibited exclusive sales contracts, local price cutting to freeze out competitors, rebates, interlocking directorates in corporations capitalized at $1 million or more in the same field of business, and intercorporate stock holdings” [6]. In regards to labor union, this act determined that human labor disputes can be settled by strikes and boycotts, something that was deemed unlawful under the Sherman Antitrust Act. The most important part of this act was if a company buys a competing firm they then create an anticompetitive merger. “While most mergers allow the companies to create better quality goods at less expensive prices, some mergers limit competition and make price fixing easier. This part of the act was designed to prevent mergers from creating