HomeGlossarySherman Antitrust Act
Sherman Antitrust Act
1890 U.S. statute declaring restraint of trade and monopolization unlawful—statutory foundation for modern American antitrust.
Section 1 targets agreements that unreasonably restrain trade; Section 2 targets monopolization and attempts. Courts initially struggled with labor and price-fixing lines; later doctrine oscillated between per se illegality and rule-of-reason balancing.
The terse text leaves immense room for economic expert testimony about market definition and competitive effects.
Institutional enforcement
The FTC and Justice Department share civil enforcement; state attorneys general and private plaintiffs also sue. Glossary entries on antitrust and politics-of-antitrust unpack modern controversies.