Antitrust and Labor Regulation's Evolution from Capitalism to Social-capitalism

The historical analysis of USA antitrust and labor regulation’s institutions is not represented in science so much in view of the Institutional Theory of Right and the Austrian School of Economics. A critical assessment of the antitrust and labor regulation’s evolution makes it possible to rethink modern antitrust policy and state regulation of labor. Employment’s contract can be based on «At-will employment» principle, which exists in conditions of capitalism. «Just-cause employment» principle is the product of social-capitalism. The main Acts of labor regulation in the period of social-capitalism are: The National Labor Relations Act of 1935 (Wagner Act), The Fair Labor Standards Act of 1938, The Labor Management Relations Act of 1947 (Taft–Hartley Act). The Sherman Antitrust Act of 1890 and Clayton Antitrust Act of 1914 began «antitrust law» era in history of USA. There are positions of different representatives of social science in this research among which are: Dominick T. Armentano, Thomas DiLorenzo, David Boaz, Ludwig von Mises, Murray Rothbard, Milton Friedman. The Institutional Theory of Right of Vladimir Aleksandrovich Chetvernin is the conceptual basis of this work.