The New Sherman Act: A Positive Instrument of Progress

Abstract

The issue of competition and monopoly is fundamental to the development of legal machinery for the effective and progressive control of the national economy. Competition is not a cure-all for our economic ills. But measures to increase the degree of competition in the organization of economic life are important items in the tool-bag of techniques with which we can reasonably hope to control our economic destiny. The amount of competition we achieve in industrial organization will have a good deal to do with our success in reaching the basic goals of the Employment Act of 1946—high and sustained levels of productive employment in a free society. The organization of industry and commerce is a matter of central consequence to national policy in at least four basic particulars.