Abstract
In 1887, Congress created the first modern federal regulatory agency, the Interstate Commerce Commission (“ICC”), whose original purpose was to regulate railroads.1 Shortly thereafter, Congress passed the Sherman Act, the first federal antitrust statute.2 Oversimplifying significantly, these two statutes can be viewed as forming the basis for a two-pronged approach to the regulation of firms in the United States.
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References
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Stockdale, D.K. (2003). The Regulation, Deregulation, and Nonregulation of Telecommunications and the Internet in the United States. In: Barfield, C.E., Heiduk, G., Welfens, P.J.J. (eds) Internet, Economic Growth and Globalization. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-540-24761-6_16
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DOI: https://doi.org/10.1007/978-3-540-24761-6_16
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