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In the United States, antitrust law is a collection of federal and state government laws that regulates the conduct and organization of business corporations, generally to promote fair competition for the benefit of consumers. (The concept is called competition law in other English-speaking countries.) The main statutes are the Sherman Act of 1890, the Clayton Act of 1914 and the Federal Trade Commission Act of 1914. These Acts, first, restrict the formation of cartels and prohibit other collusive practices regarded as being in restraint of trade. Second, they restrict the mergers and acquisitions of organizations that could substantially lessen competition. Third, they prohibit the creation of a monopoly and the abuse of monopoly power.[2]
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https://en.wikipedia.org/wiki/United..._antitrust_law
These laws were passed to prevent large businesses from taking over and dominating a specific industry or market. They were (supposed anyway) passed for the public benefit, in order to promote "fairness". These laws are still on the books (in effect), but it seems as if they are rarely utilized any longer. One of the last major cases was in the 1980s when At&T was broken up into the "Baby Bells".
So, the question-are these laws outdated, antiquated and no longer necessary? Or are they still an important safeguard? Should they be utilized more frequently to prevent one company from assuming monopoly power in a specific field or industry?
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