Laws in the United States
The United States has various laws in place, which are anticipated to foster fair, balanced, and competitive business practices. These laws are placed as control measures to help safeguard fair business practices. With anti-trust laws in place we are then warranted a since of security from unfair and anti-competitive business practices, unreasonable trade, and price discrimination.
As though anything new that is introduced, laws and or regulations when newly introduced can become the product of skepticism. Typically the judgmental ears question the new laws purpose and what influence it will have, even though these new laws may be intended to foster fair and ...view middle of the document...
The Institute of International Economics states the following, “The act outlawed price discrimination that gave certain buyers an advantage over others; forbade agreements in which manufacturers sell only to dealers who agree not to sell a rival manufacturer's products; and prohibited some types of mergers and other acts that could decrease competition.”
The Federal Trade Commission Act helped establish a government commission aimed at prevention of unfair and anti-competitive business practices. The 2014 published FDIC Compliance Manual states the following, “To prevent business practices that are anticompetitive or deceptive or unfair to consumers; to enhance informed consumer choice and public understanding of the competitive process; and to accomplish this without unduly burdening legitimate business activity (pg. VII–1.2).”
Since these laws have been placed, many more have followed suit. These laws include employer’s discrimination against age, sex, color, religion, child labor laws, as well as independent labor unions that have developed. Each of these laws again put into place to help safeguard the nation.
The US Department of Justice states the following, “Effective antitrust enforcement requires public support. Public ignorance and apathy can weaken antitrust enforcement more than anything else. Whether you are a businessperson or a consumer, if you encounter...