Use the excerpt from the Sherman Antitrust Law to answer the question.
“. . . Every person who shall monopolize, or attempt to monopolize, or combine or conspire with any other person or persons, to monopolize any part of the trade or commerce in any Territory of the United States or of the District of Columbia, or between any such Territory and another, or between any such Territory or Territories and any State or States or the District of Columbia, or with foreign nations, or between the District of Columbia, and any State or States or foreign nations, shall be deemed guilty of a felony, and, on conviction thereof, shall be punished by fine not exceeding $100,000,000 if a corporation, or, if any other person, $1,000,000, or by imprisonment not exceeding 10 years, or by both said punishments, in the discretion of the court. . . .”
What era is this law likely to be associated with?
A. Laissez-Faire Era
B. Progressive Era
C. New Deal Era
D. Post-World War II Era
B. Progressive Era
To determine the era associated with the Sherman Antitrust Law, we can examine the context of the law itself.
The Sherman Antitrust Law, as shown in the excerpt, addresses monopolies, attempts to monopolize, and conspiracies to control trade or commerce. This law was enacted to regulate and prevent unfair business practices and promote competition.
Taking into consideration the provided options, we can narrow down the possible eras that align with the Sherman Antitrust Law.
A. Laissez-Faire Era: This era was characterized by minimal government intervention in the economy, favoring free markets and limited regulation. The Sherman Antitrust Law, however, represents an interventionist approach to regulate monopolies and protect competition. Thus, it is unlikely that the law is associated with the Laissez-Faire Era.
B. Progressive Era: The Progressive Era, occurring from the late 19th century to the early 20th century, was a time of social and economic reform. The era saw increased concerns about corporate power and monopolies, leading to legislation aimed at regulating business practices and promoting fairness in the economy. Therefore, it is highly likely that the Sherman Antitrust Law is associated with the Progressive Era.
C. New Deal Era: The New Deal Era refers to the period of President Franklin D. Roosevelt's administration in the 1930s, marked by extensive government intervention and economic reforms in response to the Great Depression. While the New Deal introduced various economic regulations, the Sherman Antitrust Law was established before this era began. Hence, it is less likely associated with the New Deal Era.
D. Post-World War II Era: The Post-World War II Era refers to the period following World War II, which was marked by economic growth, increased consumerism, and technological advancements. However, the Sherman Antitrust Law had already been enacted before this era, again making it less likely associated with it.
Based on our analysis, the most accurate answer is B. Progressive Era as the era associated with the Sherman Antitrust Law.