What purpose did congress intend the antitrust laws to serve? Only if we answer this question can we understand the courts interpretations of the antitrust laws, which we will discuss in the following chapter. Only then can be consider the fundamental question of Chapter 18: what purpose should the antitrust laws serve?
For a discussion, see Stigler, George J. “the origin of the Sherman act, “journal of legal studies volume 14, Number 1, January 1985, pp. 1-12, and the references cited therein. (more…)
Sherman views on the policy to be served by antitrust legislation are clear. They appear on the face of the bill he drafted and reported from the committee on finance, S1. Section 1 of that bill declared illegal two classes of “arrangements, contracts, agreements, trusts, or combination”: 1 those “made with a view, or which tend, to prevent full and free competition,” and 2 those “designed, or which tend, to advance the cost to consumer” of articles of commerce. Sherman employed these two criteria of illegality in every measure he presented to the senate. 
