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Business and Labor Policy Protecting Free Trade NAFTA – North American Free Trade Agreement Federal Subsidies Tax Incentives Government Loan Free Service Commerce Department Purpose- To promote business interests of the United States Information Services Financial Assistance Research and Development Services Small Business Administration Aid for Small businesses Credit Subsidies Free advice Business Management seminars Regulating Business The Constitution gives Congress the power to “lay and collect taxes” for the general welfare Reform Movements Laissez-faire approach until Late 1800s 1887- Interstate Commerce Act- created the ICC, and placed regulations on railroad rates. Sherman and Clayton Anti-trust Laws Trust- Several corporations combined S/C attempted to stop monopolies and break up trusts, specific Standard Oil Federal Trade Commission Created in 1914 Defines unfair competition Cease and Desist orders Examine Corporate Stock purchases Investigate Trade practices Consumer Protection 1906- Pure Food and Drug Act Created the FDA FTC (Federal Trade Commission) Protects consumers from misleading and false advertising Review claims of products Regulates labeling Consumer and Product Safety (CPSC) Investigates injuries from products Establishes product safety standards Power to recall products Government and Labor Norris-La Guardia Act- Gave workers the right to join a union Wagner Act- guaranteeing the right of workers to organize and bargain collectively (NLRB created) Taft Hartley Act Restore balance between unions and management 60 days notice before a strike Limited use of injunctions Unions can sue for damages Prohibited closed shops but allowed for union shops