#OnThisDate October 15, 1914 - Breaking Monopolies

The Clayton Antitrust Act Was Passed By Congress, Marking A Pivotal Moment In U.S. Economic History.

Signed Into Law By President Woodrow Wilson, This Legislation Sought To Build Upon The Sherman Antitrust Act Of 1890, Which Had Proven Insufficient In Curbing Monopolistic Practices.

Drafted By Henry De Lamar Clayton, A Democratic Representative From Alabama, The Clayton Act Introduced Key Provisions That Targeted Unfair Business Practices More Precisely.

It Prohibited Discriminatory Pricing, Exclusive Sales Contracts, And Corporate Mergers That Substantially Reduced Competition.

Most Notably, It Offered Protections For Labor Unions By Declaring That Labor Was Not A Commodity, Thus Ensuring That Antitrust Laws Could Not Be Used To Prevent Peaceful Strikes Or Boycotts.

The Act’s Passage Was Part Of Wilson’s Broader New Freedom Domestic Policy, Which Aimed To Restore Competition In The Marketplace.

It Was Designed To Prevent The Creation Of Monopolies By Making It Illegal For A Company To Acquire Stock In Competing Firms If It Would Result In Reduced Competition.

Furthermore, It Established The Federal Trade Commission (FTC), Empowering This Body To Investigate And Prevent Unfair Business Practices.

The Clayton Act Was Enforced Nationwide, But Had Immediate Implications In Corporate Centers Like New York City And Chicago, Where Large Industrial Trusts Had Thrived Under Weak Regulation.

By Targeting The Root Of Monopolistic Behavior, The Clayton Antitrust Act Helped To Lay The Foundation For Modern Antitrust Law In The United States, Securing A More Level Playing Field In The Economy While Protecting Workers' Rights​.

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