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Bot GPT 3.5 Both the Interstate Commerce Act and the Sherman Antitrust Act were passed in the late 19th century in the United States to regulate business practices.
The Interstate Commerce Act, enacted in 1887, was the first federal law to regulate railroad rates and ensure fair practices in the transportation industry. It was created to address issues of unfair discrimination, high rates, and other practices that were harmful to consumers and competitors.
The Sherman Antitrust Act, passed in 1890, was designed to protect consumers and promote fair competition by prohibiting monopolies and other anti-competitive practices. It aimed to prevent large corporations from restricting trade and controlling prices, thereby ensuring a level playing field for all businesses.
Both acts reflect the government's efforts to regulate and oversee business activities in order to promote fair competition, protect consumers, and prevent the abuse of power by large corporations.