U.S. antitrust law regulates the business activity of corporations to help maintain healthy competition so that quality and excellence will drive the marketplace.
This idea is also known as competition law.
These laws were born in the Industrial Revolution when large corporations were setting up trusts wherein several companies would transfer shares to a single body in exchange for a share of consolidated earnings.
The trusts created large monopolies that absorbed competing enterprises.
The Sherman Act of 1890 passed the Senate by a vote of 51 to 1 and won a unanimous vote in the House.
But the Sherman Act was arguably not specific enough and was often used against the workers' unions, not the big corporations.
In 1911, President Taft used the act against the Standard Oil Company and the American Tobacco Company.
And in 1914, the Clayton Act, along with the Federal Trade Commission Act, made antitrust laws more specific, allowing the Federal Trade Commission and the Department of Justice to regulate all corporate mergers so that monopolies can not only be dissolved, but prevented.
Computer technology, most notably the internet, was perhaps the most innovative technology ever known in recorded human history.
People all over the world were able to connect one-on-one and share information.
Everyone was on the same level playing field.
It was unfiltered and it was real.
But this did not last long.
The federal government used these antitrust laws against Microsoft.
In 1999, Judge Thomas Penfield Jackson stated that Microsoft had taken actions to destroy their competition and that Microsoft had violated sections one and two of the Sherman Antitrust Act.
The court's remedy was to break Microsoft into two separate entities.
SEO search engine optimization is how people can find what they are looking for on the internet.
This allowed anyone to get their information to those seeking it.
But this changed in 2012 when Google added the Panda algorithm, which elevated the big corporations in the search results and diminished their successful competitors.
Today, Google has grown into Alphabet Incorporated, which is the epitome of a monopoly.
They have changed the game so much that competing enterprises no longer compete against Google, but are now vying for the opportunity to be bought by Google.
One of the options being put forth is to deny Alphabet Incorporated the option of buying other companies, forcing them to compete with other innovative technologies rather than absorbing them.
The idea behind antitrust law is that monopolies and cartels stifle the competition, which in turn hurts the free flow of innovation.
And as a result, all of society suffers.
And Google, along with other big tech companies, certainly seem to fit this model.
They are not only destroying the competition, but they have become political.
They have made themselves the gatekeepers of ideas.
And they are even helping authoritarian regimes suppress their own people.
These monopolies are not only destroying the innovation of products, they are destroying the innovation of ideas.
The internet has been the most disruptive technology to the status quo, and these tech companies are trying to control it for themselves and whomever they serve.
For newswars.com, this is Greg Reese.
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