'Unfair' Advertising and the FTC: Structural Evolution of the Law and Implications for Marketing and Public Policy

The Federal Trade Commission's power over 'unfair' advertising (and other marketing practices) is of major importance to marketers, advertising agencies, and public policy-makers. This power has undergone two major structural changes. First, the definition of unfairness is now codified. Second, the ban on industry-wide regulations is now lifted. The author analyzes the structural evolution of the law, namely, the background, debate, and changes to the law, and concludes with implications for public policy and marketing.