Modern Competition Law
| Competition law by country |
| G-20 major economies |
|---|
|
Australia · China · |
| 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:
“The higher processes are all processes of simplification. The novelist must learn to write, and then he must unlearn it; just as the modern painter learns to draw, and then learns when utterly to disregard his accomplishment, when to subordinate it to a higher and truer effect.”
—Willa Cather (1873–1947)
“Wearing overalls on weekdays, painting somebody else’s house to earn money? You’re working class. Wearing overalls at weekends, painting your own house to save money? You’re middle class.”
—Lawrence Sutton, British prizewinner in competition in Sunday Correspondent (London)
“The greatest step forward would be to see that everything factual is already theory. The blueness of the sky reveals the basic law of chromatics. Don’t look for anything behind the phenomena, they themselves are the doctrine.”
—Johann Wolfgang Von Goethe (1749–1832)