Competition Law - Modern Competition Law

Modern Competition Law

Competition law by country
G-20 major economies

Australia · China ·
India · Japan · Russia · United Kingdom
United States · European Union

Other economies

Ireland

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:

    I am not afraid of the priests in the long-run. Scientific method is the white ant which will slowly but surely destroy their fortifications. And the importance of scientific method in modern practical life—always growing and increasing—is the guarantee for the gradual emancipation of the ignorant upper and lower classes, the former of whom especially are the strength of the priests.
    Thomas Henry Huxley (1825–95)

    The elements of success in this business do not differ from the elements of success in any other. Competition is keen and bitter. Advertising is as large an element as in any other business, and since the usual avenues of successful exploitation are closed to the profession, the adage that the best advertisement is a pleased customer is doubly true for this business.
    Madeleine [Blair], U.S. prostitute and “madam.” Madeleine, ch. 5 (1919)

    For through the law I died to the law, so that I might live to God. I have been crucified with Christ; and it is no longer I who live, but it is Christ who lives in me. And the life I now live in the flesh I live by faith in the Son of God, who loved me and gave himself for me.
    Bible: New Testament, Galatians 2:19-20.