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[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1789 Introduced in House (IH)]

106th CONGRESS
  1st Session
                                H. R. 1789

To restore the inherent benefits of the market economy by repealing the 
   Federal body of statutory law commonly referred to as ``antitrust 
                     law'', and for other purposes.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                              May 13, 1999

   Mr. Paul introduced the following bill; which was referred to the 
                       Committee on the Judiciary

_______________________________________________________________________

                                 A BILL

 
To restore the inherent benefits of the market economy by repealing the 
   Federal body of statutory law commonly referred to as ``antitrust 
                     law'', and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Market Process Restoration Act of 
1999''.

SEC. 2. FINDINGS AND PURPOSE.

    (a) Findings.--The Congress finds the following:
            (1) Antitrust statutes governmentally facilitate 
        interference in the voluntary market transactions of 
        individuals.
            (2) Evaluation of the antitrust laws has not proceeded from 
        an analysis of their nature or of their necessary consequences, 
        but from an impressionistic reaction to their announced gain.
            (3) It is the dynamic model of competition under which only 
        ``free'' entry is required that insures maximization of 
        consumer welfare within the nature-given condition of scarcity 
        and reconciles the ideal of pure liberty with that of economic 
        efficiency.
            (4) The free market in the world of production may be 
        termed ``free competition'' or ``free entry'', meaning that in 
        a free society anyone is free to compete and produce in any 
        field he chooses. ``Free competition'' is the application of 
        liberty to the sphere of production: the freedom to buy, sell, 
        and transform one's property without violent interference by an 
        external power.
            (5) The Sherman Act was a tool used to regulate some of the 
        most competitive industries in America, which were rapidly 
        expanding their output and reducing their prices, much to the 
        dismay of their less efficient (but politically influential) 
        competitors. The Sherman Act, moreover, was used as a political 
        fig leaf to shield the real cause of monopoly in the late 
        1880's--protectionism. The chief sponsor of the 1890 tariff 
        bill, passed just three months after the Sherman Act, was none 
        other than Senator Sherman himself.
            (6) One function of the Sherman Act was to divert public 
        attention from the certain source of monopoly--Government's 
        grant of exclusive privilege.
            (7) Obscure, incoherent, and vague legislation such as 
        antitrust statutes can make legality unattainable by anyone, or 
        at least unattainable without an unauthorized revision which 
        itself impairs legality.
    (b) Purpose.--The purpose of this Act is to restore the inherent 
benefits of the market economy by repealing the Federal body of 
statutory law commonly referred to as ``antitrust law'', and for other 
purposes.

SEC. 3. REPEAL OF ANTITRUST ACTS.

    (a) Sherman.--The Sherman Act (15 U.S.C. 1 et seq.) is repealed.
    (b) Clayton Act.--The Clayton Act (15 U.S.C. 12 et seq.) is 
repealed.
    (c) Antitrust Civil Process Act.--The Antitrust Civil Process Act 
(15 U.S.C. 1311 et seq.) is repealed.
    (d) International Antitrust Enforcement Assistance Act of 1994.--
The International Antitrust Enforcement Assistance Act of 1994 (15 
U.S.C. 6201 et seq.) is repealed.
    (e) Federal Trade Commission Act.--Section 5(a) of the Federal 
Trade Commission Act (15(a) U.S.C. 45) is amended by striking ``methods 
of competition in or affecting commerce and unfair''.
                                 <all>
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