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antitrust legislation in Culture

antitrust legislation

Laws passed in the United States, especially between 1890 and 1915, to prevent large business corporations, called trusts, from combining into monopolies to restrict competition. The laws were instituted to encourage free enterprise. (See also trust busting.)

Note

The enforcement of antitrust laws has been inconsistent.

Note

Although the Bell Telephone system was declared a monopoly and forced to break up, huge corporations continue to merge.
The New Dictionary of Cultural Literacy, Third Edition Copyright © 2005 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.