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- W2592137910 abstract "The Sherman Act served as the fundamental piece of legislation on which the entire branch of antitrust law was initially constructed in the United States, and subsequently translated into other parts of the world, including Europe. Despite its importance, innovative provisions and broad consequences for the entire regulatory framework of the economy, at the time of its adoption the Sherman Act was presented as a mere codification of previously existing norms and rules developed until that point by the law courts of the common law system. This offered it constitutional legitimacy at the time of its enactment, as well as public and academic support in the century that followed. However, I show that the extent to which this claim is true is highly debatable, and there was a great level of confusion in the ranks of Congressional representatives with respect to what the common law on the subject of monopolies was, as well as on what the implications of the new statute would be. These concerns were set aside by justifying the Sherman Act as nothing more than a codification and recognition of already-existing rules. In the context of constitutional and legislative legitimacy of the enactment of such a law, it is important to understand what the underlying attitudes were in the congressional process. Moreover, in light of the significant differences and implications between a decentralized common law development of legal norms and a centralized legislative approach, the place of the Sherman Act as “dead letter” codification or, as it turned out, legislative basis for radical reform by the courts is essential to the discussion on whether it was a necessary piece of regulation for the safeguarding of the market economy." @default.
- W2592137910 created "2017-03-16" @default.
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- W2592137910 date "2016-12-02" @default.
- W2592137910 modified "2023-09-26" @default.
- W2592137910 title "The Sherman Act – Codifying Common Law Provisions or Radical Legislative Reform?" @default.
- W2592137910 hasPublicationYear "2016" @default.
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