What is the Sherman Act?

The video explains the Sherman Act of 1890, a significant federal law aimed at curbing anti-competitive behavior in the market. It highlights the historical context of monopolies in industries like rail, steel, and oil. The Act prohibits two main types of conduct: contracts, combinations, or conspiracies in restraint of trade, and the acquisition or attempt to create monopolies. The video also touches on the common law interpretations of these prohibitions and mentions that further videos will explore specific conduct under these categories.

What were some of the industries affected by the Sherman Act?

Can a single individual create a monopoly according to the Sherman Act? Explain.