Federal Trade Commission

The statement of the Federal Trade Commission "Online Profiling: Benefits and Concerns" prepared in 2000 identified the Federal Trade Commission's current mission as "to promote the efficient functioning of the marketplace by protecting consumers from unfair or deceptive acts or practices and to increase consumer choice by promoting vigorous competition" (Federal Trade Commission, 2000, para. 3). Competition is the force that makes economies work. The Federal Trade Commission (see figure 1) does realize by enforcing antitrust law and ensuring that American market is an open and free one. The term "antitrust" finds its origins in the late 1800s. Antitrust refers to large companies that work together as "trusts" in an attempt to suppress their competitors. The Federal Trade Commission ensure that American firms are competing with each other fairly and in compliance with established rules (Federal Trade Commission, 2010).

The Federal Trade Commission keeps an eye on firms' business practices, mergers, and acquisitions. The Federal Trade Commission's mission is to prevent any illegal practices that would push consumers to pay higher prices, receive lower quality goods, or find fewer goods and services available on the market. However, the Federal Trade Commission does not make a selection of successful and unsuccessful firms; consumers do that. Oftentimes, the Federal Trade Commission learns about competition issues through information gathered from consumers who detected illegal behavior. The Federal Trade Commission does not act on behalf of one or a few specific consumers. Consumers may help the Federal Trade Commission to initiate its investigations; however, such investigations are kept confidential (Federal Trade Commission, 2010).