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The unfairness doctrine is a doctrine in United States trade regulation law under which the Federal Trade Commission (FTC) can declare a business practice "unfair" because it is oppressive or harmful to consumers even though the practice is not an antitrust violation, an incipient antitrust violation, a violation of the "spirit" of the antitrust laws, or a deceptive practice.
Executive Order 12866 in the United States, issued by President Clinton in 1993, requires a cost–benefit analysis for any new regulation that is "economically significant", which is defined as having "an annual effect on the economy of $100 million or more or adversely affect[ing] in a material way the economy, a sector of the economy, productivity, competition, [or] jobs," or creating an ...
Case held that the FTC is entitled to bring enforcement action against businesses that act unfairly, as where supermarket trading stamps company injured consumers by prohibiting them from exchanging trading stamps. The FTC could prevent the restrictive practice as unfair, even though there was no specific antitrust violation.
Created Date: 8/30/2012 4:52:52 PM
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Unions felt that during World War II, the National War Labor Board had unfairly held wages below the level of inflation but done little to rein in corporate profits. The American Federation of Labor (AFL) and the Congress of Industrial Organizations (CIO) as well as independent labor unions were determined to avoid a similar outcome under the new Wage Stabilization Board.
Economic determinism is a socioeconomic theory that economic relationships (such as being an owner or capitalist or being a worker or proletarian) are the foundation upon which all other societal and political arrangements in society are based.
Taxes distort economies. For example, income taxes discourage productive work; gas taxes reduce travel; and tariffs inhibit international trade. Economists often oppose individual taxes, because ...