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Business Laws....Effective Or Not? Essay

993 words - 4 pages

Business Laws…Effective or Not?
Chamberlain College of Nursing
BUSN115 Introduction to Business and Technology
Professor Tammy Lewis
Spring, 2014

Business Laws…Effective or Not?
The question this week that we are discussing is that the United States has several laws that are intended to further fair, balanced, and competitive business practices. Are such laws effective? If not, why? There are several laws in place such as the Sherman Antitrust Act, the Clayton Antitrust Act and the Federal Trade Commission Act. Anti-Trust laws limit what businesses can and cannot do to ensure that all competitors have an equal chance of succeeding. (Bovee and Thill p. 39). We will ...view middle of the document...

The United States Department of Justice says, “The principal law expressing our national commitment to a free market economy in which competition free from private and governmental restraints leads to the best results for consumers.”
The Clayton Anti-Trust Act
The government had tried to keep the trade industries and consumers safe from being treated unfairly during business practices. So in 1914, Congress passed another law designed to bolster the Sherman Anti-trust Act: the Clayton Anti-trust Act. The Clayton Anti-trust Act defined more clearly what constituted illegal restraint of trade. Institute for International Economics states that: “The act outlawed price discrimination that gave certain buyers an advantage over others; forbade agreements in which manufacturers sell only to dealers who agree not to sell a rival manufacturer's products; and prohibited some types of mergers and other acts that could decrease competition.” (Pitofsky. pg 56)
The Federal Trade Commission Act
Also, in 1914, Congress established the Federal Trade and Commission Act which supported the Sherman Anti-trust Act as well. The Federal Trade Commission Act established a government commission aimed at preventing unfair and anti-competitive business practices. The 2014 FDIC Compliance Manual States that: “To prevent business practices that are anticompetitive or deceptive or unfair to consumers; to enhance informed consumer choice and public understanding of the competitive process; and to accomplish this without unduly burdening legitimate business activity.” (pg. VII–1.2)
Many more laws and regulations have been enacted since the 1930s to protect workers and consumers further. It is against the law for employers to discriminate in hiring on the basis of age, sex, race, or religious belief. Child labor generally is prohibited. Independent labor unions are guaranteed the right to organize, bargain, and strike. All these laws are put in place to help keep everyone safe and protected.
It is not always easy to define when a violation of antitrust laws occurs. Interpretations of the laws have varied, and analysts often disagree in assessing whether companies have gained so much...

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