Antitrust laws also referred to as competition laws, are statutes developed by the U.S. government to protect consumers from predatory business practices. They ensure that fair competition exists in an open-market economy.
In October 1973, the United States of America was perhaps the largest economic crisis since World War II.
Six days after the start of the Yom Kippur war, US President Nixon approved military assistance to Israel worth $ 2.2 billion after the Soviet Union did an identical thing to the Arab states.
The embargo did not last long on the scene and was taken down in March 1974, but due to the earlier crisis, oil prices remained high. Contrary to expectations, the state introduced several new laws, such as safety standards (which only increased the dimensions of already tall cars) and the so-called "Clear Air Act", aimed at reducing smog rates.
