Friday, December 9

What Are Antitrust Laws? – Rochester Magazine

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The protection of consumers

Antitrust law is set up to ensure that businesses as well as corporations are not able to act with a view to harm customers. For the general prosperity of our economy, there needs to be a healthy amount of competition in order to guarantee an abundance of services and goods at low cost. This is simply an overall demand and supply.

What happened? Antitrust Law Began

The antitrust laws were enacted, so the federal government found a method to break up “trusts” that were formed through one business. Due to these large companies making trusts, it lead to less competition, and companies were able to raise prices as they were the only one with the ability to provide quality or service.

Though antitrust laws play an important role in almost everyone’s lives, it isn’t clear how we feel the impact they have. If antitrust laws were to go away the world could be an area with significantly less competition and competition, leading to more cost of living and lower quality of life.

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