The Role of Government Chapter 7 Section 3. Anti-Monopoly Legislation Sherman Antitrust Act Sherman Antitrust Act 1 st law against monopolies 1 st law.

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Presentation transcript:

The Role of Government Chapter 7 Section 3

Anti-Monopoly Legislation Sherman Antitrust Act Sherman Antitrust Act 1 st law against monopolies 1 st law against monopolies Clayton Antitrust Act Clayton Antitrust Act Outlawed price discrimination (charging different prices for the same product) Outlawed price discrimination (charging different prices for the same product) Federal Trade Commission Act Federal Trade Commission Act Cease and desist order—stop unfair bus. practices (like price fixing) Cease and desist order—stop unfair bus. practices (like price fixing)

Internalizing Externalities Tax system to lessen some negative externalities Tax system to lessen some negative externalities Example: pollution Example: pollution Say a firm dumps pollution into a local river so they do not have to pay for toxic disposal Say a firm dumps pollution into a local river so they do not have to pay for toxic disposal Who pays the price for the pollution? Who pays the price for the pollution? The public The public Gov’t taxes the producer (use the $ to pay for clean up) Gov’t taxes the producer (use the $ to pay for clean up) Hope that the company will pollute less since they have to pay for the pollution Hope that the company will pollute less since they have to pay for the pollution

Public Disclosure Requirement that businesses reveal information to the public Requirement that businesses reveal information to the public From labels on food to banks and CC explaining interest rates on loans From labels on food to banks and CC explaining interest rates on loans

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