1 Jan 1911 Jahr - Supreme Court orders Standard oil divided to overturn its monopoly power

Beschreibung:

A 1911 Supreme Court decision that directed the breakup of the Standard Oil Company into smaller companies because its overwhelming market dominance and monopoly power violated antitrust laws.

At the time Roosevelt acted, trusts had partially protected themselves with the help of two friendly states, New Jersey and Delaware, whose legislatures had loosened regulations and invited trusts to incorporate under their new state laws. With its Northern Securities ruling, however, the Supreme Court began to recognize federal authority to dissolve the most egregious monopolies. Roosevelt left a powerful legacy to his successor, William Howard Taft. In its Standard Oil decision (1911), the Supreme Court agreed with Taft’s Justice Department that John D. Rockefeller’s massive oil monopoly should be broken up into several competing companies. After this ruling, Taft’s attorney general undertook antitrust actions against other giant companies.

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