Chapter 12 Administrative - Chapter 12 Antitrust...

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Chapter 12 Antitrust Administrative Agencies ........................ federal/state/local to implement legislation (law and policy) Bureaucracy .................................... regulate, permit, inspect, record, etc 4 th Branch of Government ............... contain all three powers (legislative, executive, judicial) ................................................ enormous body of regulations Reasons for Agencies Specificity ....................................... too much detail for Congress to handle. Agencies create ................................................ detailed body of regulations filling in the gaps. IRS Expertise ......................................... expertise beyond Congress in fields such as monetary policy ................................................ (Federal Reserve Board), NRC, CDC, FDA, IRS Protection ........................................ safeguard the public through regulation and monitoring ................................................ SEC, EPA, FDA Regulation ....................................... public service commissions over natural monopolies, ................................................ virtually every agency will add to body of regulatory law Services ........................................... FEMA, food stamps, welfare, social security Functions of Agencies Rule making .................................... quasi-legislative rules and regulations are law. Regulations by ................................................ some agencies may be industry specific, others economy wide. ................................................ guidelines – agency interpretations (IRS private letter rulings) ................................................ Federal agencies publish in Federal Register .
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