Process of creating powerful private monopolistic corporates fulfilling a definition of modern monopoly according to its economic position and market power are mostly connected with second half of nineteenth and twentieth century in United States. Public concerns about the state-granted monopolies shifted to fear of private ones. Several of the emerging economic giants such as Standard Oil or Carnegie Steel Company had become so influential on the market that American government had to create new section of antitrust laws to prevent from diminishing social wealth. Most important laws of that time are the Sherman Antitrust Act in 1890 and the Clayton Antitrust Act in 1914. Many constitution have been modified to meet current monopoly requirements, for example Minnesota Constitution stated in 1888: “Any combination of persons, either as individuals or members or officers of any corporation to monopolize the markets for food products in this state, or to interfere with, or to restrict the freedom of such markets, is hereby declared to be a criminal conspiracy and shall be punished in such manner as the Legislature shall provide.” Within this period have been both monopolies and government antitrust laws modified and spread into the whole world even more with trend of globalization. Corporates are consistently observed currently to comply with antitrust measures because the extended modern economic theory proved that an uncontrolled monopoly diminish public wealth.
