In 1917, frustrated with his efforts to mediate a peace, Wilson becomes convinced that both sides needed to cease hostilities. Shortly after, he declared war, saying the world needed to be safe for democracy. A year later, he listed his goals for a war-free world, including a League of Nations and the Fourteen Points. In 1918, the Germans surrendered, expecting a peace treaty from Wilson’s Fourteen Points.

Wilson sought to create a new world order after World War I that simply did not include war as a legitimate tool of foreign policy. The first five points called for an end to secret treaties between nations, demanded freedom of navigating the seas, equal trading practices and elimination o

However, other practices demand closer scrutiny based on principles that the courts and antitrust agencies have developed. These cases are examined under a rule of reason analysis. A practice is illegal if it restricts competition in some significant way and has no overriding business justification. Practices that meet both characteristics are likely to harm consumers -- by increasing prices, reducing availability of goods or services, lowering quality or service, or significantly stifling innovation.

Next, the Clayton Act was created to regulate general practices that potentially may be detrimental to fair competition. Some of these general practices regulated by the Clayton Act are: price discrimination; exclusive dealing contracts, tying agreements, or requirement contracts; mergers and acquisitions; and interlocking directorates.

2. In 1890. the federal government established the Sherman Antitrust Act, which prohibits any contract, trust, or conspiracy in restraint of interstate or foreign trade.

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