How Do Antitrust Laws Ensure Fairness
BUSN-115
03/23/2014
The United States of America has laws and regulations set into place to ensure fairness and equality abroad in the corporate America. Agencies such as the Federal Trade Commission and the Consumer Protection Agency are the two largest. Their main priorities are to focus in on corporate responsibilities and make sure they abide by fair human rights standards, whilst keeping balance abroad and promoting competitive business practices.
“Employment equity laws and policies focus on redressing inequalities by requiring employers to plan to end discriminatory practices facing women, racialized and aboriginal peoples, people living with disabilities and others who are similarly disadvantaged.” ("Employment equity laws ensure workplace fairness | …show more content…
Toronto Star", 2013)
“The antitrust laws proscribe unlawful mergers and business practices in general terms, leaving courts to decide which ones are illegal based on the facts of each case.” ("The Antitrust Laws | Federal Trade Commission", 2014)
Such laws are effective.
These laws and regulations are protecting the consumers and employees of America. The FTC will audit any company or individual whom goes against these laws. Obviously for some time now anti-trust laws have had a huge impact in America.
“Yet for over 100 years, the antitrust laws have had the same basic objective: to protect the process of competition for the benefit of consumers, making sure there are strong incentives for businesses to operate efficiently, keep prices down, and keep quality up.” ("The Antitrust Laws | Federal Trade Commission", 2014)
“In addition to its authority to investigate law violations by individuals and businesses, the Commission also has federal rule-making authority to issue industry-wide regulations” ("Rules | Federal Trade Commission", 2014)
Take for example, the Fair Credit Reporting Act. It “regulates the collection, dissemination, and use of consumer information, including consumer credit information.[1] Along with the Fair Debt Collection Practices Act (FDCPA), it forms the base of consumer credit rights in the United States.” ("Fair Credit Reporting Act - Wikipedia, the free encyclopedia",
2014)
The reason that I feel these practices are effective is that the FTC fights for human rights and is a strong supporter for consumers and employees.
“The FTC works to advance government policies that protect consumers and promote competition.
As part of its policy, advocacy, and research work, the agency: files advocacy letters files amicus briefs to aid in court deliberations gives Congressional testimony solicits and reviews public comments regarding rules, cases, and policies issues advisory opinions conducts workshops publishes reports that examine cutting-edge antitrust and consumer protection issues
The FTC also works with competition and consumer protection agencies around the world to promote cooperation and sound policy approaches. The FTC has built strong relationships with its counterparts abroad, and helps countries around the world to develop and enhance their competition and consumer protection programs.” ("Policy | Federal Trade Commission", 2014)
The types of protection the FTC offers is as listed:
Employment Laws include:
Workplace Safety & Health
Wages & Hours
Worker’s Compensation
Employee Benefit Security
Unions & their members
Employee Protection
Uniformed Services Employment & Reemployment Rights Act
Employee Polygraph Protection Act
Garnishment of Wages
The Family and Medical Leave Act
Veterans ' Preference Government Contracts, Grants, or Financial Aid
Migrant & Seasonal Agricultural Workers
Mine Safety & Health
Construction
Transportation
Plant Closings & Layoffs
Posters
Related Agencies
("U.S. Department of Labor - A Summary of Major DOL Laws", 2014)
With laws such as these set into place, it makes employment and social standards in the U.S fair and equal. Companies must abide by these laws to keep their relationship with its consumers and employees a positive one. When a company makes a discriminatory action or does not abide by these laws, there is adverse action taken against the company.
References: http://www.thestar.com/opinion/editorial_cartoon/2013/02/01/employment_equity_laws_ensure_workplace_fairness.html http://www.ftc.gov/tips-advice/competition-guidance/guide-antitrust-laws/antitrust-laws http://www.ftc.gov/enforcement/rules http://www.ftc.gov/policy http://en.wikipedia.org/wiki/Fair_Credit_Reporting_Act http://www.dol.gov/opa/aboutdol/lawsprog.htm
03/23/2014
The United States of America has laws and regulations set into place to ensure fairness and equality abroad in the corporate America. Agencies such as the Federal Trade Commission and the Consumer Protection Agency are the two largest. Their main priorities are to focus in on corporate responsibilities and make sure they abide by fair human rights standards, whilst keeping balance abroad and promoting competitive business practices.
“Employment equity laws and policies focus on redressing inequalities by requiring employers to plan to end discriminatory practices facing women, racialized and aboriginal peoples, people living with disabilities and others who are similarly disadvantaged.” ("Employment equity laws ensure workplace fairness | …show more content…
Toronto Star", 2013)
“The antitrust laws proscribe unlawful mergers and business practices in general terms, leaving courts to decide which ones are illegal based on the facts of each case.” ("The Antitrust Laws | Federal Trade Commission", 2014)
Such laws are effective.
These laws and regulations are protecting the consumers and employees of America. The FTC will audit any company or individual whom goes against these laws. Obviously for some time now anti-trust laws have had a huge impact in America.
“Yet for over 100 years, the antitrust laws have had the same basic objective: to protect the process of competition for the benefit of consumers, making sure there are strong incentives for businesses to operate efficiently, keep prices down, and keep quality up.” ("The Antitrust Laws | Federal Trade Commission", 2014)
“In addition to its authority to investigate law violations by individuals and businesses, the Commission also has federal rule-making authority to issue industry-wide regulations” ("Rules | Federal Trade Commission", 2014)
Take for example, the Fair Credit Reporting Act. It “regulates the collection, dissemination, and use of consumer information, including consumer credit information.[1] Along with the Fair Debt Collection Practices Act (FDCPA), it forms the base of consumer credit rights in the United States.” ("Fair Credit Reporting Act - Wikipedia, the free encyclopedia",
2014)
The reason that I feel these practices are effective is that the FTC fights for human rights and is a strong supporter for consumers and employees.
“The FTC works to advance government policies that protect consumers and promote competition.
As part of its policy, advocacy, and research work, the agency: files advocacy letters files amicus briefs to aid in court deliberations gives Congressional testimony solicits and reviews public comments regarding rules, cases, and policies issues advisory opinions conducts workshops publishes reports that examine cutting-edge antitrust and consumer protection issues
The FTC also works with competition and consumer protection agencies around the world to promote cooperation and sound policy approaches. The FTC has built strong relationships with its counterparts abroad, and helps countries around the world to develop and enhance their competition and consumer protection programs.” ("Policy | Federal Trade Commission", 2014)
The types of protection the FTC offers is as listed:
Employment Laws include:
Workplace Safety & Health
Wages & Hours
Worker’s Compensation
Employee Benefit Security
Unions & their members
Employee Protection
Uniformed Services Employment & Reemployment Rights Act
Employee Polygraph Protection Act
Garnishment of Wages
The Family and Medical Leave Act
Veterans ' Preference Government Contracts, Grants, or Financial Aid
Migrant & Seasonal Agricultural Workers
Mine Safety & Health
Construction
Transportation
Plant Closings & Layoffs
Posters
Related Agencies
("U.S. Department of Labor - A Summary of Major DOL Laws", 2014)
With laws such as these set into place, it makes employment and social standards in the U.S fair and equal. Companies must abide by these laws to keep their relationship with its consumers and employees a positive one. When a company makes a discriminatory action or does not abide by these laws, there is adverse action taken against the company.
References: http://www.thestar.com/opinion/editorial_cartoon/2013/02/01/employment_equity_laws_ensure_workplace_fairness.html http://www.ftc.gov/tips-advice/competition-guidance/guide-antitrust-laws/antitrust-laws http://www.ftc.gov/enforcement/rules http://www.ftc.gov/policy http://en.wikipedia.org/wiki/Fair_Credit_Reporting_Act http://www.dol.gov/opa/aboutdol/lawsprog.htm