Today’s Federal Trade Commission (FTC) doesn’t seem to have much faith in America’s democratic systems.
Created over 100 years ago, the agency is set up as a bipartisan commission with a professional staff and requirements for transparent rulemaking procedures, all intended to limit how political ideologies and day-to-day political pressures affect the FTC’s regulation of business. Scholarly studies have shown multiple times that such limitations—which are known as “best practices” worldwide—are important for economies to thrive and benefit consumers. Why? Because consumers and businesses invest more in their economic futures if they have faith that regulators will hear their voices and make decisions according to law, known facts, and proven, enduring principles.
