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    In 1914 the Clayton Act was passed, in part to clarify the Sherman Act.

    In brief, the Clayton Act prohibits the following:

1. Price discrimination for reasons other than cost differences or to match a competitor
2. Tying contracts, exclusive dealing contracts, requirements contracts
3. Mergers that substantially reduce competition
4. Direct interlocking directorates

    The [Outside Econweb] Federal Trade Commission (FTC) was also created in the U.S. in 1914. The FTC was given the power to investigate and outlaw "unfair methods of competition and commerce."

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