Fair Trade?

In many a radio store last week, hired snoops shopped busily for bargains. They were paid to hunt radio & television sets selling for less than the manufacturer's factory list price. Stores that made cut-rate sales were summarily cut off from factory shipments. Something called "fair trade" was at work.

Time was when any U.S. merchant was free to sell anything in the house at any price he set. But now, for a steadily growing list of "brand-name" products, such free competition is forbidden by law in 45 U.S. states. In addition to...