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Trust-busting
 
 
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Trust-busting is any government activity designed to break up trust
Trust (19th century)

A special trust or business trust is a business entity formed with intent to Monopoly business, to Restraint of trade, or to Price fixing....
s or monopolies
Monopoly

In economics, a monopoly exists when a specific individual or enterprise has sufficient control over a particular product or service to determine significantly the terms on which other individuals shall have access to it....
. Theodore Roosevelt
Theodore Roosevelt

Theodore Roosevelt , also known as T.R., and to the public as Teddy, was the List of Presidents of the United States President of the United States....
 is the U.S. president most associated with dissolving trusts. However, William Howard Taft signed twice as much trust-busting legislation during his presidency.

Trusts were large business entities that largely succeeded in controlling a market
Market

A market is any one of a variety of different systems, institutions, procedures, social relations and infrastructures whereby persons trade, and goods and services are exchanged, forming part of the economy....
, essentially becoming a monopoly
Monopoly

In economics, a monopoly exists when a specific individual or enterprise has sufficient control over a particular product or service to determine significantly the terms on which other individuals shall have access to it....
. The term became common in the late 19th century, when a system of trusts controlled much of the economy of the United States
Economy of the United States

The economy of the United States is the List of countries by GDP in the world. Its gross domestic product was estimated as $14.2 trillion in 2008....
.






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Trust-busting is any government activity designed to break up trust
Trust (19th century)

A special trust or business trust is a business entity formed with intent to Monopoly business, to Restraint of trade, or to Price fixing....
s or monopolies
Monopoly

In economics, a monopoly exists when a specific individual or enterprise has sufficient control over a particular product or service to determine significantly the terms on which other individuals shall have access to it....
. Theodore Roosevelt
Theodore Roosevelt

Theodore Roosevelt , also known as T.R., and to the public as Teddy, was the List of Presidents of the United States President of the United States....
 is the U.S. president most associated with dissolving trusts. However, William Howard Taft signed twice as much trust-busting legislation during his presidency.

Trusts were large business entities that largely succeeded in controlling a market
Market

A market is any one of a variety of different systems, institutions, procedures, social relations and infrastructures whereby persons trade, and goods and services are exchanged, forming part of the economy....
, essentially becoming a monopoly
Monopoly

In economics, a monopoly exists when a specific individual or enterprise has sufficient control over a particular product or service to determine significantly the terms on which other individuals shall have access to it....
. The term became common in the late 19th century, when a system of trusts controlled much of the economy of the United States
Economy of the United States

The economy of the United States is the List of countries by GDP in the world. Its gross domestic product was estimated as $14.2 trillion in 2008....
. In 1898, President William McKinley
William McKinley

William McKinley, Jr. was the List of Presidents of the United States President of the United States, and the last veteran of the American Civil War to be elected....
 launched the "saw-busting" era when he appointed the U.S. Industrial Commission
Industrial Commission

The Industrial Commission was a United States government body in existence from 1898 to 1902. It was appointed by President William McKinley to investigate railroad pricing policy, industrial concentration, and the impact of immigration on labor markets, and make recommendations to the President and Congress of the United States....
 on Trusts, which interrogated Andrew Carnegie
Andrew Carnegie

Andrew Carnegie was a Scotland-born United States industrialist, List of business people, and a major philanthropist. He was an immigrant as a child with his parents....
, John D. Rockefeller
John D. Rockefeller

John Davison Rockefeller was an United States industrialist and philanthropist. Rockefeller revolutionized the petroleum industry and defined the structure of modern philanthropy....
, Charles M. Schwab
Charles M. Schwab

Charles Michael Schwab was an United States steel magnate. Under his leadership, the Bethlehem Steel Corporation became the second largest steel maker in the United States, and one of the most important heavy manufacturers in the world....
, and other industrial titans. The report of the Industrial Commission was seized upon by Theodore Roosevelt, who became known as a "Trust-Regulator," dissolving 44 trusts during his two terms as president. The "Trust Buster" name is probably more suited for Roosevelt's successor, William Howard Taft
William Howard Taft

William Howard Taft was the List of Presidents of the United States President of the United States, the tenth Chief Justice of the United States, a leader of the progressive conservative wing of the History of the United States Republican Party in the early 20th century, a pioneer in international arbitration and staunch advocate of world pe...
, who brought an end to 90 trusts in one term. Although Taft may have done more to control the trusts while in office, Roosevelt retains the nickname because he was the pioneer of trust-busting.

Senator John Sherman
John Sherman (politician)

John Sherman nicknamed "The Ohio Icicle" was a United States House of Representatives and United States Senate from Ohio during the American Civil War and into the late nineteenth century....
 from Ohio
Ohio

Ohio is a Midwestern United States U.S. state of the United States. As part of the Great Lakes region , Ohio has long been a cultural and geographical crossroads in North America....
 introduced legislation, the Sherman Antitrust Act
Sherman Antitrust Act

Antitrust Act was the first United States Federal statute to limit cartels and monopoly. It falls under antitrust law.The Act provides: "Every contract, combination in the form of Trust or otherwise, or conspiracy, in restraint of trade or commerce among the several States, or with foreign nations, is declared to be illegal"....
, on July 2, 1890 to prevent trusts from forming. The Clayton Antitrust Act
Clayton Antitrust Act

The Clayton Antitrust Act of 1914, , was enacted in the United States to add further substance to the U.S. U.S. antitrust laws law regime by seeking to prevent anticompetitive practices in their incipiency....
 was enacted in 1914 to remedy deficiencies in the Sherman Act.

See also


  • United States antitrust law
  • Andrew L. Harris
    Andrew L. Harris

    Andrew Lintner Harris was one of the heroes of the Battle of Gettysburg and the last American Civil War general to serve as a governor in the U.S., serving as the 44th Governor of Ohio....
    , Governor of Ohio, appointed by McKinley to the Commission on Trusts
  • Corporation
    Corporation

    A corporation is a legal entity separate from the persons that form it. It is a legal entity owned by individual stockholders. In British tradition it is the term designating a body corporate, where it can be either a corporation sole or a corporation aggregate ....
  • United States v. E. C. Knight Co.
    United States v. E. C. Knight Co.

    United States v. E. C. Knight Co., Case citation , also known as the "Sugar Trust Case,'" was a List of United States Supreme Court cases case that limited the government's power to control monopolies....
  • History of the United States (1865-1918)
  • U.S. Industrial Commission
    Industrial Commission

    The Industrial Commission was a United States government body in existence from 1898 to 1902. It was appointed by President William McKinley to investigate railroad pricing policy, industrial concentration, and the impact of immigration on labor markets, and make recommendations to the President and Congress of the United States....
     of 1898 (1898-1902)
  • Thurman Arnold
    Thurman Arnold

    Thurman Wesley Arnold was an iconoclastic Washington, D.C. lawyer. He was best known for his trust-busting campaign as United States Assistant Attorney General in charge of the Competition law Division in Franklin Delano Roosevelt's United States Department of Justice from 1938 to 1943....
    , headed Franklin Delano Roosevelt's trust-busting campaign in the Department of Justice, and helped eliminate trust
  • Northern Securities Company
    Northern Securities Company

    The Northern Securities Company was a large United States railroad Trust company formed in 1902 by E. H. Harriman, James J. Hill, J.P. Morgan, J....
  • Standard Oil Co. of New Jersey v. United States
    Standard Oil Co. of New Jersey v. United States

    Standard Oil Co. of New Jersey v. United States, Case citation , was a case in which the Supreme Court of the United States found Standard Oil guilty of monopoly the petroleum industry through a series of abusive and anticompetitive actions....
  • United States Microsoft antitrust case
  • Federal Trade Commission
    Federal Trade Commission

    The Federal Trade Commission is an Independent agencies of the United States government, established in 1914 by the Federal Trade Commission Act....
  • United States Department of Justice Antitrust Division
    United States Department of Justice Antitrust Division

    The United States Department of Justice Antitrust Division is responsible for enforcing the United States antitrust law. It shares jurisdiction over Civil law antitrust cases with the Federal Trade Commission and often works jointly with the FTC to provide regulatory guidance to businesses....


formed buisneess