Antitrust Laws (Competition Laws) Explained in One Minute: The Sherman Antitrust Act, FTC Act, etc.
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- čas přidán 29. 02. 2020
- Few things are more frowned upon in let's say Western jurisdictions than business practices that undermine competition and through so-called antitrust laws (also commonly referred to as competition laws), legislators are trying to ensure that business is being done on a level playing field.
In one minute, this video explains why antitrust laws have appeared and why engaging in let's say anti-competition practices is so appealing to many businesses. In most cases, the reasons revolve around the fact that as strange as it may sound given the "reputation" of capitalism that revolves around how great entrepreneurs are doing thanks to this system, a valid case could be made that the average consumer benefits even more.
How?
One word: competition, which makes businesses approach consumers with better and better offers and in the absence of non-linear scenarios such as innovation-related ones, oftentimes leads to a race to the bottom, with profit margins being pushed down to the point of minimum profitability.
Therefore, some business owners decide to... well, bend the rules.
Antitrust laws exist to ensure such situations are kept to a minimum, with the (in)famous three being the Sherman Antitrust Act, the Federal Trade Commission Act or FTC Act and the Clayton Antitrust Act over in the United States for example... love them or hate them, they're an important part of the ecosystem in many jurisdictions :)
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Excellent tutorial. This is why food prices are so high…4 companies controlling beef distribution in the US. CARGILL is a huge problem!
Thank you for your post x
A monopolistic company could also break itself up into a few smaller companies to avoid being labeled a monopoly as well right?
Any example?
@@nanani1729 Japanese Zaibatsus.
Similar to Koreans too since their Conglomerates called Chaebols can be owned by the same family imagine if Wal-Mart and Amazon are owned by two brothers who hate each other.
That's the situation with Samsung and CJEM
Yes. Or, if course, it could be "convinced" or even officially compelled to do that by regulators :)
They'll probably do that also for evade higher taxes
But i guess you’ll then want to have the companies ‘act’ as if they are a group, which would mean they are colluding = also illegal?
that's whqat happened to Microoft and standard Oil
companies too powerful, and without concurrences
Always a fine balancing act, legislatively speaking :)
Lovely
We're defying the Sherman Act claims on section 1 & 2 violations that alleged that the defendants airlines and various co-conspirator travel agents have combined and conspired to unlawfully retrain of monopolized interstate or foreign commerce. For example a synopsis: Background: Defendant was convicted of conspiracy to restrain trade in violation of Sherman Act. The United States District Court for the Southern District of New York, John G. Koeltl, J., 470 F.Supp.3d 383, denied defendant's motion for judgment of acquittal notwithstanding jury verdict, or in alternative, for new trial. Defendant appealed.
Today, "firearm ammunition scarcity" is creating a de facto monopoly, in the sense that small gun stores are not able to receive "their fair share" of bullets to sell to their consumers. Big box ammo sellers like Bass Pro Shops, Cabela's, and Academy Sports + Outdoors get "larger quantities of bullets" due to the amount that they buy from the bullet-makers. When these big box stores run out of ammo, then the ammo supply gets constrained to a few online vendors, and their customers have to wait 6 months to a year to receive their bullets by mail. The fewer bullet sellers there are, the more ammunition costs, and the more small gun stores are harmed.
This describes apple vs epic games
:)
So if two mob families were agreeing to split "turf", that sounds like an oligopoly, but are there unmet criteria of the four market models that rule that out?
Ok
Hi , I contacted you over the website
Hi there, did you send an email to andrei at one minute economics dot com?
@@OneMinuteEconomics yes contact form
Actually, according to libertarians, trusts only exist because of government, and the vast majority of monopolies are government sanctioned monopolies. Deliberately sabotaging a competitor would violate the NAP, and a reduced government would still exist to enforce this.
i believe this could of explained a little slower and a better break down
If there are aspects you need help with, let me know. Maybe I can be of assistance or another visitor can chime in here in the comments section :)
" The Anti-Trust laws ---an unenforceable, uncompilable, unjudicable mess of contradictions---have for decades kept American Businessmen under a silent, growing reign of terror. "
-Ayn Rand- 1962
I think consumers are happy paying higher prices. They care more about the good they achieve in the world.
The voice made me rewind a couple times. Difficult to comprehend what you’re saying >:(
Practice English comprehension then. I understood him perfectly.
What baby world doesn't get 😂😂😂😂😂 maybe their eyes start to open up in 2024 😅😅😅😅😅 give it to em G
Same thing again clean em up guys I cannot object to it... 😅 this is corporate world without any bureaucracy involved... No nonsense tolerated here after this point apparently... That it won't be like college when toy trains were given to them... But like a proper sending back of them and all their crony stooges together....
This describes the 2020 election. Some how the people nor the POTUS have enough power even with a joint voice.
It's because literally everyone else in the GOP or the courts are either corrupt, colluding, or scared of what may happen to them, or their families.
😂 Yep. A conspiracy of *everyone,* minus you. Or, y'know, the world's sorest loser telegraphed he wouldn't accept a loss *years* ahead of time, and much of America was too stupid to realize it.
@@ichijofestival2576 you are despicable
@@latecoming7012 High praise from a minion of evil.
@@ichijofestival2576 if that's what you liked to be called. So be it. You still deleted your comment. Guilty
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