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:
“In modern America, anyone who attempts to write satirically about the events of the day finds it difficult to concoct a situation so bizarre that it may not actually come to pass while his article is still on the presses.”
—Calvin Trillin (b. 1940)
“All adults who care about a baby will naturally be in competition for that baby.... Each adult wishes that he or she could do each job a bit more skillfully for the infant or small child than the other.”
—T. Berry Brazelton (20th century)
““Teacher, which commandment in the law is the greatest?” He said to him, “You shall love the Lord your God with all your heart, and with all your soul, and with all your mind.’ This is the greatest and first commandment. And a second is like it: You shall love your neighbor as yourself.’ On these two commandments hang all the law and the prophets.””
—Bible: New Testament, Matthew 22:36-40.