Mergers and the Clayton Act

By David Dale Martin | Go to book overview

7. The 1950 Amendment of Section 7: Legislative History

From 1921 until 1949, twenty-one separate bills to amend Section 7 of the Clayton Act were introduced in Congress.1 The principal amendment effort did not begin, however, until after the Temporary National Economic Committee made its final recommendations.2 Sixteen bills were introduced between 1943 and 1949 in the Seventy-eighth through the Eighty-first Congresses and received varying degrees of Congressional consideration before the Celler-Kefauver Act was finally enacted on December 29, 1950.3

The record of the legislative history of the amendment shows that neither the proponents nor the opponents of the proposals to change the statute focused their arguments on the most important questions -- the effect of various types of mergers on the effectiveness of competition in the markets of the economy, and the changes needed in the law in order to increase the probability that mergers that might decrease competition would be pro

____________________
1
See "Section 7 of the Clayton Act: A Legislative History", Columbia Law Review, 52 ( June, 1952), 766-781.
2
Final Report and Recommendations of the Temporary National Economic Committee, U.S. 77th Cong., 1st sess., S. Doc. 35 ( 1941), pp. 38-39.
3
64 U.S. Stat. at L. ( 1950), 1125.

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