From Competitor to Consumer: The Changing Focus of Federal Regulation of Advertising, 1914–1938

Abstract

It is a truism that government regulation of business, like all institutions of the political economy, has been evolutionary in nature. Yet few regulatory programs have metamorphosed quite so completely as that of the Federal Trade Commission, which converted itself in the period covered by this article from a watchdog of “competitive practices” that might militate against preservation of atomistic industrial organization, to an agency bent on protecting the interests of consumers. Professor Tedlow shows how this process worked itself out in the important case of truth in advertising.

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