Modern Competition Law
| Competition law by country |
| G-20 major economies |
|---|
|
Australia · China · |
| Other economies |
|
Ireland |
|
|
While the development of competition law stalled in Europe during the late 19th century, in 1889 Canada enacted what is considered the first competition statute of modern times. The Act for the Prevention and Suppression of Combinations formed in restraint of Trade was passed one year before the United States enacted the most famous legal statute on competition law, the Sherman Act of 1890. It was named after Senator John Sherman who argued that the Act "does not announce a new principle of law, but applies old and well recognised principles of common law".
Read more about this topic: Competition Law
Famous quotes containing the words modern, competition and/or law:
“He was naturally so sensitive, and so kind. But he had the insidious modern disease of tolerance. He must tolerate everything, even a thing that revolted him.”
—D.H. (David Herbert)
“The praise of ancient authors proceeds not from the reverence of the dead, but from the competition and mutual envy of the living.”
—Thomas Hobbes (1588–1679)
“Justice begins with the recognition of the necessity of sharing. The oldest law is that which regulates it, and this is still the most important law today and, as such, has remained the basic concern of all movements which have at heart the community of human activities and of human existence in general.”
—Elias Canetti (b. 1905)