INTERCORPORATE STOCKHOLDING UNDER SECTION 7 OF THE CLAYTON ACT

Authors

Abstract

It is notorious that the Clayton Act was passed in response to misguided popular agitation based upon erroneous notions as to the scope and effect of the Sherman Anti-Trust Law, and in fulfilment of, campaign promises voiced not only by Wilson, but embodied in the platforms of all three political parties in 1912. Stevens, "The Federal Trade Commission Act," 4 AMER. ECON. REV. 840; "The Clayton Act," 5 ibid. 38; Henderson, THE FEDERAL TRADE COMMISSION, p. 16; Barrett, "The Federal Trade Commission," 81 CENT. L. J.; 166-171, 183-189, 201-207; Taft, THE ANTI-TRUST ACT AND THE SUPREME COURT. Even without the perspective of a decade and a half, it must have been apparent that the "trust-busting'' measures of 1914 were more politic than efficacious, and that they fell far short of a perfection in economic wisdom and in skillful draftsmanship. Levy, "A Decade of the Federal Trade Commission," II VA. L. REV., 21, III, 1g6, 278, 372; Henderson, op. cit., passim. As usual, the sins of Congress have been visited upon the courts. They have struggled bravely, trying, in spite of the statutes, to reach conclusions free from absurdity. If this has not always been possible, the courts are not entirely to blame.

Recommended Citation

INTERCORPORATE STOCKHOLDING UNDER SECTION 7 OF THE CLAYTON ACT, 27 Mich. L. Rev. 931 (1929).
Available at: https://repository.law.umich.edu/mlr/vol27/iss8/7