How have global antitrust laws evolved over time?
Over the years, antitrust laws around the world have evolved significantly as governments attempt to regulate competition more effectively. Since the late 19th century, antitrust legislation has been passed to protect consumers and businesses from monopolies. The Sherman Antitrust Act, first passed in the United States in 1890, was the first modern antitrust law, and many other countries soon followed with their own versions of similar legislation. In the last century, antitrust laws have been updated to reflect both changes in global business practices and to stay ahead of potential market abuses. In the US, this trend culminated in the passage of the Hart-Scott-Rodino Antitrust Improvements Act in 1976, which was designed to help federal agencies better enforce antitrust law. More recently, governments around the world have focused on the issue of global competition. Starting in the 1990s, antitrust legislation has been updated to accommodate the increasingly international nature of businesses. Governments are now working together to ensure that large multinational corporations cannot take advantage of weaker competition laws abroad. In Oregon, antitrust laws are governed by the Oregon Unfair Trade Practices Act. The Act prohibits unfair competition or trade practices, limits business mergers, and creates the Oregon Department of Justice Consumer and Business Services Division to enforce the law. The Oregon Unfair Trade Practices Act is a reflection of the global trend of increased antitrust regulations.
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