The Federal Trade Commission, along with other administrative agencies, has been especially affected by the current emphasis on deregulation. Some proponents of the free market system view the Commission as an unnecessary and costly impediment to market functioning. In this article, Professor Koch and Ms. Martin review past FTC regulatory efforts in light of the FTC's mandate: to maintain an efficient, competitive free market Although the FTC has deviated from its market maintenance goal, this deviation should not serve as a basis for constricting Commission rulemaking activity. Rather, the authors demonstrate that past Commission practices illustrate the need for an informal rulemaking procedure that is sensitive to the needs of both consumers and industry.

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61 North Carolina Law Review 275-311 (1983)