The Public Interest

One hundred years of antitrust

Lino A. Graglia

Summer 1991

LAST YEAR we celebrated the centennial of the 1890 Sherman Antitrust Act, although repentance and commiseration might have been more appropriate responses. Along with the 1887 Interstate Commerce Act, the Sherman Act began centralized government regulation of the American economic system. Only those who consider this a move in the right direction—contrary to what is surely the central economic lesson of the twentieth century—can find cause for celebration.

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