Anti-Trust Law
Analyze and criticize the statement: The strategy of the Sherman Anti-Trust Act and other U.S. antimonopoly legislation is to ensure that each company has meaningful competitors in every product market in which it participates. This strategy works to prevent monopoly pricing of products but unfortunately it is inadequate to prevent the development of quasi-political control of entire societies by oligopolies whose member corporations share a quasi-political agenda. Therefore, as the world becomes a single market, some new strategy must be developed to control the reach of the corporate oligopolies.
The statement is illustrating how the Sherman Anti-Trust Act needs to be updated. This is because globalization has created situations, where multinational corporations can own a variety of assets around the world. The problem is that many foreign-based firms could avoid the different provisions of this law based upon: the properties, resources and assets that they control. This means that they can have a major impact in what happens to the U.S. economy and markets.
A good example of this can be seen with the Citigroup merger. For years, many proponents claimed that the Glass Steagall Act was preventing banks from competing internationally. This is a Depression era law that required strict segregation between: banks, brokerage firms and insurance companies. The basic idea was to limit their exposure to the economy from: excessive risking taking during times of economic prosperity. (Hardaway, 2011, pp. 85 — 114)
However, once this law was repealed is when a number of American and foreign-based firms began purchasing large financial institutions. This allowed them to market subprime mortgages as safe investments around the globe. Yet, in reality these were very risky and one of the main causes of the financial crisis. Once this happened, is when a firm became too big to fail. (Hardaway, 2011, pp. 85 — 114) This is illustrating how the Sherman Anti-Trust Act needs to be updated, to reflect the large international oligopolies that have been created. If this were to occur, it will limit the total amount of assets that a particular firm can own (overseas and domestically). This will reduce the exposure of a company’s activities on: the economy and consumers.
What about personal wealth? Does the high degree of effective control of the world economy by the “corporate tribe,” along with the extreme concentration of personal wealth in the United States in the hands of the same individuals, who control the largest corporations, mean that the Sherman Anti-Trust Act and the Clayton Act have been failures?
The Sherman Anti-Trust Act and the Clayton Act are not failures. This is because they were designed to monitor the kinds of activities corporations were involved in. As time has gone by, these laws were regularly updated to reflect the changes in: technology, business and address any kind of loop holes. However, when there have not been any kind of new regulations imposed, both laws will become ineffective. (Gerber, 2010, pp. 31 — 44)
A good example of this can be seen with the passage of the Hart-Scott-Rodino Pre-Notification Act of 1976. This law was passed to deal with issues such as: mergers and acquisitions. At the time, regulators were not aware of a merger, until it was announced. The problem is that no one was checking to see if the combined company would be in violation of the Sherman Anti-Trust Act and the Clayton Act. To deal with these issues, Congress passed the Hart-Scott-Rodino Pre-Notification Act of 1976. This required all firms to submit any documentation surrounding any merger to regulators (prior to the announcement). This addressed the changes that occurred in the way businesses were operating. (Gerber, 2010, pp. 31 — 44)
These elements are showing, how the Sherman Anti-Trust Act and the Clayton Act need to be updated on a global scale. If this were to take place, it will address the economic disparities by: preventing the wealthy from using multinational firms to increase the size of their net worth. As a result, both laws are not failures. Instead, the various provisions need to be updated to reflect the transformations in the world economy over the last 30 years.
Oligarchy, Oligopoly or Democracy? If you were to lobby Congress and inform them again why the Sherman Anti-Trust Act was enacted, what it stands for, and why oligopolies are not for our society, what do you think the response from Congress would be? What would be their argument?
Congress would agree with the historical precedent set by the Sherman Anti-Trust Act and its usefulness. However, when it comes to making any kind of changes to existing laws, is when they will disagree in how to address these challenges. This is because many of the more conservative members will be opposed to any kind of legislation that will hurt business. (Weir, 2007, pp. 37 — 39)
The reason why, is they feel that the federal government has a history of over regulating the economy. When this happens, there is the possibility that American companies will be at a competitive disadvantage in the world markets. Moreover, any kind of regulations that will limit the activities of firms, will result in reduced investment capital and an increase in the unemployment rate. (Weir, 2007, pp. 37 — 39)
During an election year, Congress does not want to upset the voters and will do anything to avoid these kinds of negative perceptions. Once the election is over, is when many of these individuals will be heavily lobbied by corporate special interests. They want to stall or limit any kind of legislation. In either case, these activities will maintain the status quo. As a result, Congress will do nothing to address these challenges. This is because they feel that any kind of changes to these laws; could be considered to be anti-competitive. (Weir, 2007, pp. 37 — 39)
References
Gerber, D. (2010). Global Competition. New York, NY: Oxford University Press.
Hardaway, R. (2011). The Great American Housing Bubble. Santa Barbara, CA: Praeger.
Weir, R. (2007). Class in America. Westport, CT: Greenwood Press.
Get Professional Assignment Help Cheaply
Are you busy and do not have time to handle your assignment? Are you scared that your paper will not make the grade? Do you have responsibilities that may hinder you from turning in your assignment on time? Are you tired and can barely handle your assignment? Are your grades inconsistent?
Whichever your reason is, it is valid! You can get professional academic help from our service at affordable rates. We have a team of professional academic writers who can handle all your assignments.
Why Choose Our Academic Writing Service?
- Plagiarism free papers
- Timely delivery
- Any deadline
- Skilled, Experienced Native English Writers
- Subject-relevant academic writer
- Adherence to paper instructions
- Ability to tackle bulk assignments
- Reasonable prices
- 24/7 Customer Support
- Get superb grades consistently
Online Academic Help With Different Subjects
Literature
Students barely have time to read. We got you! Have your literature essay or book review written without having the hassle of reading the book. You can get your literature paper custom-written for you by our literature specialists.
Finance
Do you struggle with finance? No need to torture yourself if finance is not your cup of tea. You can order your finance paper from our academic writing service and get 100% original work from competent finance experts.
Computer science
Computer science is a tough subject. Fortunately, our computer science experts are up to the match. No need to stress and have sleepless nights. Our academic writers will tackle all your computer science assignments and deliver them on time. Let us handle all your python, java, ruby, JavaScript, php , C+ assignments!
Psychology
While psychology may be an interesting subject, you may lack sufficient time to handle your assignments. Don’t despair; by using our academic writing service, you can be assured of perfect grades. Moreover, your grades will be consistent.
Engineering
Engineering is quite a demanding subject. Students face a lot of pressure and barely have enough time to do what they love to do. Our academic writing service got you covered! Our engineering specialists follow the paper instructions and ensure timely delivery of the paper.
Nursing
In the nursing course, you may have difficulties with literature reviews, annotated bibliographies, critical essays, and other assignments. Our nursing assignment writers will offer you professional nursing paper help at low prices.
Sociology
Truth be told, sociology papers can be quite exhausting. Our academic writing service relieves you of fatigue, pressure, and stress. You can relax and have peace of mind as our academic writers handle your sociology assignment.
Business
We take pride in having some of the best business writers in the industry. Our business writers have a lot of experience in the field. They are reliable, and you can be assured of a high-grade paper. They are able to handle business papers of any subject, length, deadline, and difficulty!
Statistics
We boast of having some of the most experienced statistics experts in the industry. Our statistics experts have diverse skills, expertise, and knowledge to handle any kind of assignment. They have access to all kinds of software to get your assignment done.
Law
Writing a law essay may prove to be an insurmountable obstacle, especially when you need to know the peculiarities of the legislative framework. Take advantage of our top-notch law specialists and get superb grades and 100% satisfaction.
What discipline/subjects do you deal in?
We have highlighted some of the most popular subjects we handle above. Those are just a tip of the iceberg. We deal in all academic disciplines since our writers are as diverse. They have been drawn from across all disciplines, and orders are assigned to those writers believed to be the best in the field. In a nutshell, there is no task we cannot handle; all you need to do is place your order with us. As long as your instructions are clear, just trust we shall deliver irrespective of the discipline.
Are your writers competent enough to handle my paper?
Our essay writers are graduates with bachelor's, masters, Ph.D., and doctorate degrees in various subjects. The minimum requirement to be an essay writer with our essay writing service is to have a college degree. All our academic writers have a minimum of two years of academic writing. We have a stringent recruitment process to ensure that we get only the most competent essay writers in the industry. We also ensure that the writers are handsomely compensated for their value. The majority of our writers are native English speakers. As such, the fluency of language and grammar is impeccable.
What if I don’t like the paper?
There is a very low likelihood that you won’t like the paper.
Reasons being:
- When assigning your order, we match the paper’s discipline with the writer’s field/specialization. Since all our writers are graduates, we match the paper’s subject with the field the writer studied. For instance, if it’s a nursing paper, only a nursing graduate and writer will handle it. Furthermore, all our writers have academic writing experience and top-notch research skills.
- We have a quality assurance that reviews the paper before it gets to you. As such, we ensure that you get a paper that meets the required standard and will most definitely make the grade.
In the event that you don’t like your paper:
- The writer will revise the paper up to your pleasing. You have unlimited revisions. You simply need to highlight what specifically you don’t like about the paper, and the writer will make the amendments. The paper will be revised until you are satisfied. Revisions are free of charge
- We will have a different writer write the paper from scratch.
- Last resort, if the above does not work, we will refund your money.
Will the professor find out I didn’t write the paper myself?
Not at all. All papers are written from scratch. There is no way your tutor or instructor will realize that you did not write the paper yourself. In fact, we recommend using our assignment help services for consistent results.
What if the paper is plagiarized?
We check all papers for plagiarism before we submit them. We use powerful plagiarism checking software such as SafeAssign, LopesWrite, and Turnitin. We also upload the plagiarism report so that you can review it. We understand that plagiarism is academic suicide. We would not take the risk of submitting plagiarized work and jeopardize your academic journey. Furthermore, we do not sell or use prewritten papers, and each paper is written from scratch.
When will I get my paper?
You determine when you get the paper by setting the deadline when placing the order. All papers are delivered within the deadline. We are well aware that we operate in a time-sensitive industry. As such, we have laid out strategies to ensure that the client receives the paper on time and they never miss the deadline. We understand that papers that are submitted late have some points deducted. We do not want you to miss any points due to late submission. We work on beating deadlines by huge margins in order to ensure that you have ample time to review the paper before you submit it.
Will anyone find out that I used your services?
We have a privacy and confidentiality policy that guides our work. We NEVER share any customer information with third parties. Noone will ever know that you used our assignment help services. It’s only between you and us. We are bound by our policies to protect the customer’s identity and information. All your information, such as your names, phone number, email, order information, and so on, are protected. We have robust security systems that ensure that your data is protected. Hacking our systems is close to impossible, and it has never happened.
How our Assignment Help Service Works
1. Place an order
You fill all the paper instructions in the order form. Make sure you include all the helpful materials so that our academic writers can deliver the perfect paper. It will also help to eliminate unnecessary revisions.
2. Pay for the order
Proceed to pay for the paper so that it can be assigned to one of our expert academic writers. The paper subject is matched with the writer’s area of specialization.
3. Track the progress
You communicate with the writer and know about the progress of the paper. The client can ask the writer for drafts of the paper. The client can upload extra material and include additional instructions from the lecturer. Receive a paper.
4. Download the paper
The paper is sent to your email and uploaded to your personal account. You also get a plagiarism report attached to your paper.
PLACE THIS ORDER OR A SIMILAR ORDER WITH US TODAY AND GET A PERFECT SCORE!!!
