The Sherman Anti-Trust Act Explained: US History Review

The video discusses the Sherman Anti-Trust Act, a significant U.S. legislation aimed at curbing monopolies and promoting competition. It provides historical context, explaining the laissez-faire economics of the 19th century and the rise of monopolies. The Act, passed in 1890, initially targeted unions rather than big businesses. Under President Teddy Roosevelt, it was used to break up monopolies, marking a shift towards government regulation. The video concludes with a discussion on the ongoing debate about the role of government in regulating business for the public good.

What economic philosophy was prevalent during the Industrial Age, leading to the rise of monopolies?

• Keynesian Economics

• Laissez-faire Economics

• Marxist Economics

• Supply-side Economics

What was the primary goal of the Sherman Anti-Trust Act when it was enacted in 1890?

• To increase government subsidies to businesses

• To prevent monopolies and promote competition

• To regulate labor unions

• To promote international trade

How was the Sherman Anti-Trust Act initially misused after its enactment?

• It was used to increase tariffs

• It was used against labor unions instead of monopolies

• It was used to break up small businesses

• It was used to promote foreign trade

Which president is known for effectively using the Sherman Anti-Trust Act to break up monopolies?

• Benjamin Harrison

• Woodrow Wilson

• Teddy Roosevelt

• William McKinley

What was the significance of the Supreme Court's decision in 1904 regarding the Sherman Anti-Trust Act?

• It declared the Act unconstitutional

• It expanded the Act to include international trade

• It allowed the Act to be used to break up monopolies

• It limited the Act's application to only railroads

What is one argument against the Sherman Anti-Trust Act mentioned in the video?

• It reduces consumer choice

• It stifles innovation by breaking up successful companies

• It promotes unfair competition

• It increases government spending

Why is the Sherman Anti-Trust Act considered a significant piece of legislation?

• It was the first law to promote laissez-faire economics

• It marked the beginning of federal regulation of business for public good

• It was the first law to regulate international trade

• It was the first law to support labor unions