The purpose of the Sherman Antitrust Act, passed in 1890, was to prohibit trusts, monopolies, and cartels that restrained trade and reduced economic competition. It was designed to promote fairness and competition in the U.S. economy by outlawing business practices that unfairly dominated markets, fixed prices, divided markets, or excluded competitors. The Act aimed to keep the marketplace competitive to protect consumers from abuses resulting from monopolistic control and to regulate interstate commerce. It was the first significant federal law to address the dominance of large corporations and to ensure economic liberty by preventing the concentration of market power in the hands of a few entities. The Act also authorized the federal government to take legal action against violators, including imposing penalties and breaking up monopolistic firms.