Northern Securities Co. v. U.S. (J. Harlan, 1904) – Per Se Rule

Northern Securities Co. v. U.S. (J. Harlan, 1904) – Per Se Rule

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  Reflects the moralistic approach of the Roosevelt administration and concern for competitors
  
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  Holding: articulates the “tenets” of early Sherman Act cases:
  

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  Every combination or conspiracy which would extinguish competition is illegal
  
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  Natural effect of competition is to increase commerce and any agreement that prevents this play of competition restrains instead of promotes trade and commerce
  
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  It is only essential to show that a restraint, by its necessary operation, would tend to restrain trade
  
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  Constitutional guarantee of liberty of contract d/n prevent Congress from prescribing the rule of free competition for those engaged in interstate and international commerce
  

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