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The Legislative History of the Sherman Act Re-examined

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  • Hazlett, Thomas W

Abstract

According to Robert Bork's influential analysis, the Sherman Act was expressly instituted by the 51st Congress to advance consumer welfare, but has often been misinterpreted by federal courts handing down anticonsumer decisions. This paper suggests that the political coalition backing the 1890 antitrust statute sought multiple social ends and did not faithfully seek to impose economic efficiency. The key evidence includes historical economic trends, congressional debate, the legislative agenda of Senator John Sherman, and the political conflict generated by the most contentious (and most electorally important) issue of the 51st Congress: the highly protectionist McKinley Tariff Act. Copyright 1992 by Oxford University Press.

Suggested Citation

  • Hazlett, Thomas W, 1992. "The Legislative History of the Sherman Act Re-examined," Economic Inquiry, Western Economic Association International, vol. 30(2), pages 263-276, April.
    • Handle: RePEc:oup:ecinqu:v:30:y:1992:i:2:p:263-76
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    Cited by:

    1. Giocoli, Nicola, 2008. "Competition vs. property rights: American antitrust law, the Freiburg School and the early years of European competition policy," MPRA Paper 33807, University Library of Munich, Germany.
    2. Patrick Newman, 2018. "Revenge: John Sherman, Russell Alger and the origins of the Sherman Act," Public Choice, Springer, vol. 174(3), pages 257-275, March.
    3. Paul H. Rubin & Mark A. Cohen, 1992. "Politically Imposed Entry Barriers," Eastern Economic Journal, Eastern Economic Association, vol. 18(3), pages 333-344, Summer.
    4. Nicola Giocoli, 2009. "Competition Versus Property Rights: American Antitrust Law, The Freiburg School, And The Early Years Of European Competition Policy," Journal of Competition Law and Economics, Oxford University Press, vol. 5(4), pages 747-786.

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