1 Essential Question: Explain the attitude of the U.S. government before the 1880’s (explain the term Laissez Faire), Identify the 3 purposes of early antitrust legislation, list two examples of businesses affected by anti-trust legislation, Evaluate which of the U.S. Antitrust acts (use the chart) is most significant in your opinion and explain why Market Regulation SECTION 3

2 Laissez-faire relationship between the federal government and business Before the 1880s, the U.S. government did not interfere with business or the marketplace. The government allowed Businesses to develop into monopolies Why? The United States was emerging as an industrial powerhouse and our economy was expanding like never before. The problem? Businesses were now able to sacrifice public good for profit Market Regulation SECTION 3

3 3 Purposes of early antitrust legislation: to monitor and regulate big business to prevent formation of monopolies to break up existing monopolies Market Regulation SECTION 3

4 Government enforcement of antitrust legislation: broke up Standard Oil Company of Ohio in 1911 and AT&T in 1982 with the Sherman Antitrust Act created watchdog groups, such as the Interstate Commerce Commission and the Federal Trade Commission strengthened antitrust legislation with acts such as the Celler-Kefauver Act of 1950, the Antitrust Procedures and Penalties Act of 1975, and the Parens Patriae Act of 1976 Market Regulation SECTION 3

5 U.S. Antitrust Legislation: Using your textbook, turn to page 133 Copy down the chart titled “U.S. antitrust legislation” Be sure to include the year, the name of the legislation, and the purpose behind to act. Once you are finished, review the information for each act and select which act you feel was the most important in terms of protecting public good from “big business” (use this info in your summary) Market Regulation SECTION 3