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 truth is rarely pure and never simple. Modern life would be very tedious if it were either, and modern literature a complete impossibility!”
—Oscar Wilde (1854–1900)
“Like many businessmen of genius he learned that free competition was wasteful, monopoly efficient. And so he simply set about achieving that efficient monopoly.”
—Mario Puzo (b. 1920)
“Revenge is a kind of wild justice, which the more a man’s nature runs to, the more ought law to weed it out.”
—Francis Bacon (1561–1626)