With laws such as the interstate commerce act and the Sherman antitrust act, what problems did congress seek to address?
The Interstate Commerce Act was passed in 1887 to address issues related to the regulation of railroads and freight rates. The act aimed to prevent unfair practices by railroads, such as rate discrimination, and to ensure that rates were reasonable and just. Congress sought to promote fair competition and protect consumers from monopolistic practices in the railroad industry.
The Sherman Antitrust Act, passed in 1890, aimed to address issues related to the concentration of economic power and the formation of monopolies. The act sought to promote fair competition in the marketplace by prohibiting business practices that restrained trade or commerce, such as price-fixing, market allocation, and mergers that substantially lessened competition. Congress sought to prevent the formation of monopolies and promote a level playing field for businesses of all sizes.