Modern Competition Law
| Competition law by country |
| G-20 major economies |
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Australia · China · |
| Other economies |
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Ireland |
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While the development of competition law stalled in Europe during the late 19th century, in 1889 Canada enacted what is considered the first competition statute of modern times. The Act for the Prevention and Suppression of Combinations formed in restraint of Trade was passed one year before the United States enacted the most famous legal statute on competition law, the Sherman Act of 1890. It was named after Senator John Sherman who argued that the Act "does not announce a new principle of law, but applies old and well recognised principles of common law".
Read more about this topic: Competition Law
Famous quotes containing the words modern, competition and/or law:
“Speed, it seems to me, provides the one genuinely modern pleasure.”
—Aldous Huxley (1894–1963)
“Competition has been shown to be useful up to a certain point and no further, but cooperation, which is the thing we must strive for today, begins where competition leaves off.”
—Franklin D. Roosevelt (1882–1945)
“Nobody dast blame this man.... For a salesman, there is no rock bottom to the life. He don’t put a bolt to a nut, he don’t tell you the law or give you medicine. He’s a man way out there in the blue, riding on a smile and a shoeshine. And when they start not smiling back—that’s an earthquake. And then you get yourself a couple of spots on your hat, and you’re finished. Nobody dast blame this man. A salesman is got to dream, boy. It comes with the territory.”
—Arthur Miller (b. 1915)