Law360, New York (March 7, 2016, 9:19 AM EST) -- The 1914 creation of the Federal Trade Commission was a radical step to address tensions in the economy. Not only was it one of the first regulatory agencies in America, the FTC was also granted nearly comprehensive jurisdiction and a broad, undefined mandate to police competition. To understand the FTC, we have to situate ourselves in the tensions of turn-of-the-century American economy. The country was rapidly changing from an agricultural to an industrial economy. A growing disconnection between creators and buyer of products created new consumer protection problems. Industries with high barriers to entry and industries that enjoyed network effects could...
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