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2 - Law and Policy

Published online by Cambridge University Press:  12 November 2009

Keith N. Hylton
Affiliation:
Boston University
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Summary

This chapter introduces some fundamental legal, historical, and policy issues in antitrust law. My aim is not so much to report the details as to give the reader a few simple explanations of the relationship between the Sherman Act and its historical roots, reasons for the enactment of the antitrust laws, and the policy issues recurring in antitrust cases.

The focus of this chapter is the Sherman Act. The important parts of the statute are as follows:

Section 1: Every contract, combination in the form of trust or otherwise, or conspiracy, in restraint of trade or commerce among the several States, or with foreign nations, is declared to be illegal. Every person who shall make any contract or engage in any combination or conspiracy hereby declared to be illegal shall be deemed guilty of a felony, and, on conviction thereof, shall be punished by fine not exceeding [$10 million] if a corporation, or if any other person, [$350,000], or by imprisonment not exceeding [3 years], or by both said punishments, in the discretion of the court.

Section 2: Every person who shall monopolize, or attempt to monopolize, or combine or conspire with any person or persons, to monopolize any part of the trade or commerce among the several States, or with foreign nations, shall be deemed guilty of a felony [and is similarly punishable].

SOME INTERPRETATION ISSUES

Conspiracy, Section 1, and Section 2

We can contrast the two important sections of the Sherman Act by comparing the elements of a conspiracy charge.

Type
Chapter
Information
Antitrust Law
Economic Theory and Common Law Evolution
, pp. 27 - 42
Publisher: Cambridge University Press
Print publication year: 2003

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  • Law and Policy
  • Keith N. Hylton, Boston University
  • Book: Antitrust Law
  • Online publication: 12 November 2009
  • Chapter DOI: https://doi.org/10.1017/CBO9780511610158.003
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  • Law and Policy
  • Keith N. Hylton, Boston University
  • Book: Antitrust Law
  • Online publication: 12 November 2009
  • Chapter DOI: https://doi.org/10.1017/CBO9780511610158.003
Available formats
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Send book to Google Drive

To send content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about sending content to Google Drive.

  • Law and Policy
  • Keith N. Hylton, Boston University
  • Book: Antitrust Law
  • Online publication: 12 November 2009
  • Chapter DOI: https://doi.org/10.1017/CBO9780511610158.003
Available formats
×