Sherman Antitrust Act of 1890

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https://www.britannica.com/event/Sherman-Antitrust-Act


One of the other groups presented on the Sherman Antitrust Act, which I found to be very interesting. I had heard about it in part before their presentation, but after hearing it in full, I learned the full story behind the act including when it was created, who it was named after, how it still has relevance today, and much more.

The Sherman Antitrust Act is an act that was created in 1890 to prohibit companies from merging together to form monopolies and to keep the job market as equal as possible. It was named after John Sherman, who was a politician from Ohio. He was most well known for his role as William McKinley’s Secretary of State during his time as President, but he also spent time in both the U.S. House of Representatives and the U.S. Senate in addition to serving as Secretary of the Treasury to President Rutherford B. Hayes. Despite being created in 1890, the act was not utilized until over a decade later during the time of Theodore Roosevelt’s presidency.

Like all laws and acts, a violation of the Sherman Antitrust Act carries with it a very hefty penalty. If the act is violated, the punishment is either a prison sentence of 10 years or a fine of 1 million dollars.

Despite being over 120 years old, the act still has relevance today. In 2019, an investigation into big-name companies including Apple, Google, and Facebook was launched as a result of suspected monopolistic actions, the exact things the act hopes to prevent.

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