Federal Trade Commission

Beginning with the tariff, Wilson personally addressed Congress concerning the tariff and the Underwood Tariff Act was established and passed by 1913, which lowered the tariff and graduated an income tax. Following with the bank, Woodrow implemented the Federal Reserve Act, which established a new Federal Reserve and created twelve central banks in twelve banking districts and also, gave them the power to produce currency or “federal reserve notes.” The Federal Trade Commission Act went after the trusts and created a board to investigate trusts and stop unfair trade practices such as, unlawful competition, bribery, false advertising, mislabeling, and adulteration. Finally, in 1914, there was the Clayton Antitrust Act, which made monopolies unlawful and exempted labor unions from being labelled as trusts and legalized striking and peaceful picketing (Document

The Federal Trade Commission(FTC) was created in 1914. It was created to ensure that there were no businesses that were anticompetitive; meaning that there wasn’t one company or business that was creating a monopoly. The FTC has three main goals; they are to protect consumers, maintain competition, and advance performance. They protect the consumers by preventing fraud and making sure businesses are fair in the marketplace. They maintain competition by preventing companies from merging together and creating a monopoly. Finally, they advance performance by advancing the FTC’s performance through organizational, personal, and management excellence. The FTC is very beneficial, and although not everybody knows about it, as a consumer it helps with the economy of every American. Throughout the years since it was created, there has been more laws added that help keep businesses

The paper will serve as a historical background overview of how the Federal Trade Commission Act (FTC) came into existence. The paper will also break down the key components for which the FTC covers, such as deceptive advertising, baiting and switching and consumer fraud. There will be examples

1914: Clayton passes the Federal Trade Commission Act to invest trust activity and halt unfair behavior (false ads, adulteration.mislabeling, and bribes).

It required that all prices must be reasonable and just, rates must be publically posted, outlawed all secret rebates and deals, and price discrimination against smaller companies was now made illegal. While the act promised many changes to reduce the domination of the railroad monopolies, it was not enforced as pro-railroad commissioners were appointed by most of the later presidents. The next act passed by congress in 1890 called Sherman Antitrust Act. The objective of the act was to ban trusts and other contracts that restrained free trade. Much like the Interstate Commerce it was not enforced at all. In fact it was used to help the railroad monopolies even more by regulating labor unions. The very pro-business Supreme Court would rule that strikes violated the prohibition against “a conspiracy in restraint of trade.” In the act. This was the opposite intent of the act, and would not be properly enforced until the early

In 1886 the US Supreme Court declared that states could not regulate commerce that went beyond their boundaries in the Wabash, St. Louis and Pacific R.R. versus Illinois case. The decision provided the basis for the formation of the Interstate Commerce Commission in 1887. The Interstate Commerce Commission was a regulatory agency in the united states. Its purpose was to regulate railroads to ensure fair rates, to regulate rate discrimination and to regulate other aspects of common carriers, including interstate bus lines and telephone companies.

Esch-Cummins Transportation Act of 1920 encouraged private consolidation of railroads and Interstate Commerce Commission would guarantee their profitability;Merchant Marine Act of 1920

Objective of this paper is to discuss where the following agencies lie in the administrative structure of the federal government:

Reformer Ida B. Tarbell was a muckracker who wrote for McClure’s Magazine in the 1920s. As a muckracker, Tarbell would bring to light issues affected the American people. More specifically, in her “History of the Standard Oil Company”, Tarbell documented how Rockefeller ruthlessly squeezed out competitors with unfair business practices. With Tarbell’s writings, the middle class was able to respond with great moral exhortation. In addition Tarbell exposed the corruption of these companies such as Rockefeller’s oil company to a large audience of citizens and placed politicians under great duress to serve the interests of the people. For example, President Theodore Roosevelt fought to end the trusts and was known as a “trust buster” (Doc. A). Roosevelt was adamant about getting rid of the bad trusts and keeping the “good trusts”. In 1890, Congress passed the Sherman Antitrust Act in an attempt to break up massive monopolies dominating the American economy. The Sherman Antitrust Act was unsuccessful because it did not include a method of enforcement; however that was not the last attempt to bring about an end to bad trusts. In 1914, President Wilson gained passage of the Clayton Antitrust Act. This act was more strict than that of the Sherman Antitrust Act barring companies from creating a monopoly on products (Doc. E). President Wilson was ultimately successful in the passage of

The Federal Trade Commission Act of 1914 (which also includes an Amendment known as the Wheeler-Lea Act of 1938)

In 1907, an economic/political reform cartoon was printed in the Washington Post. It illustrates Teddy Roosevelt holding a rifle while attacking bad trusts. TR was also known as the “trust-buster”. This cartoon demonstrates the bad trusts are a threat to society, and the government must be more powerful than big businesses. In 1914, the Clayton Antitrust Act was developed, “ That it should be unlawful for any person engaged in commerce, in the course of such commerce , either directly or indirectly to discriminate in price..( Document E)” This document price discrimination is unlawful, and monopolies were illegal. It also infers that conflict of interest was an issue as well, and shouldn’t be allowed because it caused greater

Several regulatory agencies are responsible for licensing long-term care facilities to ensure compliance of laws and regulations. Regulatory agencies also receive and investigate complaints that are related to the facility and the services in which the facility provides (Walsh, 2014). All long-term care facilities are expected to abide by these regulations in an effort to ensure long-term care patients proper care, ethical treatment, safe living environments, and health care reimbursement.

The Federal Trade Commission enforces a variety of federal antitrust and consumer protection laws. The Commission seeks to

United States antitrust law is a collection of federal and state government laws, which regulates the conduct and organization of business corporations, generally to promote fair competition for the benefit of consumers. The main statute was the Sherman act of 1890, it is the basis for U.S. antitrust law, and many states have modeled their own statutes upon it. As weaknesses in the Sherman Act became evident, Congress added amendments to it at various times through 1950 the Clayton act of 1914,

The Sherman Anti-trust Act in1890 aimed to stop monopolies from their unfair practices: The standard oil company being one of the government’s first attempts to stop. The government’s actions demonstrated their attitude towards monopolies. “ In 1887, congress passed the Interstate Commerce Act, which outlawed railroad rebates and kickbacks and also established the Interstate Commerce Commission to ensure that railroad companies obeyed the new laws” (“Sherman”). Both the Sherman Anti-trust and Interstate Commerce Acts were established to minimize the control monopolies had over the economy.