ed, these laws are hindering further growth. They need to be reviewed, and revised in order to better suit our current economy. The purposes of these laws are no longer true. Monopolies can no longer raise prices with regards only to the ease with which buyers can find substitutes products. They still have to worry about the foreign products being sold for less. Therefore, prices will not be higher, output and living standards will not be affected, they will not become inefficient and wasteful, they will not be intensive to consumer demand and they will not help to bring on recessions. The series of antitrust laws that were enacted because of accusations against monopoly power are, the Interstate Commerce Act (1887), the Sherman Antitrust Act (1890), the Clayton Antitrust and Federal Trade Commission Acts (1914), the Robinson-Patman Act (1936), and the Celler-Kefauver Antimerger Act (1950). One law that I would drop, had I the power, would be the Celler-Kefauver Antimerger Act, which prohibited mergers that would result in the creation of a monopoly. The reason that I would drop this law is because, as I stated previously, I do not believe that monopolies will have negative effects on our economy today. I would also drop the Interstate Commerce Act, which restricted monopoly power of railroads by creating the nations first regulatory agency, the Interstate Commerce Commission (ICC), whose duties are now being performed by other federal agencies. This law, I would drop, because competition for such an expensive product can cause the losing business or businesses to lose a massive amount of money and may help bring a recession. I would revise the Sherman Antitrust Act and the Clayton Antitrust and Federal Trade Commissions Acts which, declared that every contract, combinationor conspiracy in restraint of trade is illegal., provided penalties for companies that violated these laws by attempting to limit competit...
