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Federal Trade Commission Act of 1914: Difference between revisions
Federal Trade Commission Act of 1914 (view source)
Revision as of 18:30, 3 February 2025
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== Background == | == Background == | ||
The inspiration and motivation for this act started in 1890, when the [[Sherman Antitrust Act]] was passed. There was a strong antitrust movement to prevent manufacturers from joining price-fixing cartels.<ref name="FTCorigins"/> After ''[[Northern Securities Co. v. United States]]'', a 1904 case that dismantled a [[J. P. Morgan]] company, antitrust enforcement became institutionalized.<ref name="FTCorigins"/> Soon, US President | The inspiration and motivation for this act started in 1890, when the [[Sherman Antitrust Act]] was passed. There was a strong antitrust movement to prevent manufacturers from joining price-fixing cartels.<ref name="FTCorigins"/> After ''[[Northern Securities Co. v. United States]]'', a 1904 case that dismantled a [[J. P. Morgan]] company, antitrust enforcement became institutionalized.<ref name="FTCorigins"/> Soon, US President Theodore Roosevelt created the [[Bureau of Corporations]], an agency that reported on the economy and businesses in the industry.<ref name="FTCorigins"/> The agency was the predecessor to the Federal Trade Commission. | ||
In 1913, Congress expanded on the agency by passing the Federal Trade Commissions Act and the [[Clayton Antitrust Act]].<ref name="FTCorigins"/> The Federal Trade Commission Act was designed for business reform. Congress passed the act in the hopes of protecting consumers against methods of deception in advertisement and of forcing the business to be upfront and truthful about items being sold.<ref>{{cite web|title=A Brief Overview of the Federal Trade Commission's Investigative and Law Enforcement Authority|url=https://www.ftc.gov/about-ftc/what-we-do/enforcement-authority|website=Federal Trade Commission|access-date=18 December 2017|date=July 2008}}</ref> | In 1913, Congress expanded on the agency by passing the Federal Trade Commissions Act and the [[Clayton Antitrust Act]].<ref name="FTCorigins"/> The Federal Trade Commission Act was designed for business reform. Congress passed the act in the hopes of protecting consumers against methods of deception in advertisement and of forcing the business to be upfront and truthful about items being sold.<ref>{{cite web|title=A Brief Overview of the Federal Trade Commission's Investigative and Law Enforcement Authority|url=https://www.ftc.gov/about-ftc/what-we-do/enforcement-authority|website=Federal Trade Commission|access-date=18 December 2017|date=July 2008}}</ref> | ||